Betting on defaults grows gigantic; Yet credit derivatives haven't faced a market downturn.(News)

Investment News,  August, 2006  

Tags: derivatives

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Byline: Aaron Elstein Just seven years after its birth, Creditex Inc. is showing all the signs of adulthood. It has left its hip but cramped headquarters in the Flatiron District of New York for bigger space in Midtown, where Sunil Hirani, co-founder and chief executive, enjoys a commanding view from the 29th floor of the Citigroup Center.

The fast-growing credit derivatives broker agreed last month to buy a London-based competitor, CreditTrade LLP, in a deal that will nearly double its revenue. Creditex is now pondering its biggest step yet: an initial public ...

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