Posting growth figures over the last four years that have shown upward momentum, the credit default swap market is obviously of increasing interest to institutional investors. Yet in 2003 a record number of credit events occurred impacting the synthetic CDO space, despite a rosier economic picture in both the U.S. and Europe. Have market participants matured enough to avoid these pitfalls?

That answer can depend on how much time is built into soliciting bids for settlements or digesting recovery data.

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