CDS Trade Lifecycle Visualization

An interactive visualization of how a CDS trade progresses from initiation to termination

Trade Initiation

Documentation

Trade Confirmation

Clearing & Settlement

Ongoing Lifecycle

Credit Event (If Occurs)

Termination

Trade Initiation

Stage 1 of 7

The buyer and seller agree on terms of the CDS contract.

Protection Buyer

Seeks protection against default

Premium Payments

Protection Payment (if credit event)

Protection Seller

Receives premium for taking risk

Reference Entity

The company or sovereign whose credit risk is being transferred

No Credit Event

Credit Default Swap (CDS) Trade Lifecycle