Primus Financial starts credit derivatives trading

Over the past two weeks, Primus has executed around 45 credit default swaps with a number of counterparties for a total notional principal amount in excess of $400 million, they said. Their target is $5 billion of trades in the first year of operation.

Primus provides investment-grade credit risk protection to derivatives dealers and credit portfolio managers. It invests in credit risk by selling protection to its customers in the form of credit default swaps on more than 1,200 investment-gr

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