Another dealer joins CJ 50 Index
Japan’s Aozora Bank has become the eighth credit derivatives dealer to join the CJ 50 Index, a multi-dealer credit index which tracks the 50 most liquid credit default swaps in Japan.
The CJ 50 Index began trading in late July, and now has an average daily trading volume of between ¥3-4 billion ($25.8 million-$34.4 million), according to BNP Paribas.
The index has tightened sharply over the year, reaching 35.31 on September 3, compared with 42.92 at the end of May and 68.77 at the start of the year.
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