As Wall Street aims for automated clearing and settling of credit default swap trades, most of the attention has been on competing platforms offered by CME-Citadel and the ICE/Clearing Corp. But there are other aspirants in this market as well, one of which has already launched a trading platform. TradeWeb this month launched an electronic trading platform for CDS indexes. Managers at hedge funds and other institutions can view "live" CDS index prices and request bids and offers from multiple dealers. The platform has won the support of nine key U.S. dealers, including Goldman Sachs, Credit Suisse and JPMorgan Chase. The import of that kind of support cannot be understated. The success of any platform long-term will rest with dealers and whether they will support it. Obviously, they will be leery of anything that might erode their margins.  

For more:
- here's an article from the Wall Street Journal

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