Creditex is an interdealer credit broker that finalizes all trades over the phone. But it uses the internet to deliver real-time prices and historical data in a way that greatly adds to the market’s transparency and speed.
John McEvoy, a former director of Deutsche Bank’s New York credit derivatives business and co-founder of Creditex along with Sunil Hirani, says that chaotic conditions in the cash credit markets mean business is growing faster than ever. He says: “Perversely, the more ugly and volatile the credit markets get, the more it pours gasoline on the credit derivatives market and benefits us.
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