Given the building momentum behind the credit derivative counterparty and structured investment vehicle craze, one would think it were only a matter of time until the two structures merged, right? According to several sources close to the matter, at least five of the sector's participants are looking into creating companies, or branching out from current operations, to incorporate functions of both CDPCs and SIVs.

"You have the SIVs, which have been around since 1989, 1990, and now you have the new CDPCs, on the other extreme - but there is an area of overlap," one source familiar with the business plans said.

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