Credit Derivatives Determinations Committee

The Credit Derivatives Determinations Committees (DCs) each comprise 10 sell-side and five buy-side voting firms, alongside three consultative firms and central counterparty observer members. Their role is to apply the terms of market-standard credit derivatives contracts to specific cases, and make factual determinations on Credit Events, Successor Reference Entities and other issues, based on information provided to the DCs by credit default swap (CDS) market participants. The DCs are also responsible for determining whether a CDS Auction should be held following a Credit Event, in accordance with the Determinations Committee Rules. DC Administration Services, Inc. acts as a non-voting secretary to each DC, and endeavors to co-ordinate this process in a transparent and operationally efficient manner.

All determinations made by the DC are governed by the Determinations Committees Rules.

The DC Requests section of this website identifies, in a summary table, all questions submitted to the DC for resolution. Market participants should click on the ‘More’ button for details of any particular DC question (including any related DC Resolutions).

Read a paper on the four-year history of the formation, structure and workings of the Credit Derivatives Determinations Committees.