Markit LCDX index dealers have voted to hold a Credit Event Auction to facilitate settlement of loan-only credit default swap (LCDS) trades referencing Smurfit-Stone Container Enterprises, Inc., which is a constituent of the Markit LCDX index.
The auction terms, including the auction date, will be determined by Markit LCDX dealers according to LCDS Auction Rules. Markit and Creditex are the official administrators of Credit Event Auctions.
A separate Credit Event Auction will be held to facilitate settlement of CDS trades referencing Smurfit-Stone.
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