November 29, 2018 / 8:04 PM / 6 months ago

Emerging market CDS trading value rises in Q3 -EMTA

NEW YORK, Nov 29 (Reuters) - Trading in emerging market credit default swaps jumped 42 percent to $509 billion in the third quarter of 2018 from $359 billion in the same quarter a year earlier, a survey released on Thursday showed.

Emerging market CDS trading rose 9 percent from the previous quarter's $468 billion, according to a survey from EMTA, the emerging markets debt-trading and investment industry trade association.

It was the highest quarterly volume in records going back to 2009, EMTA said.

Turkish CDS were the most traded last quarter at $73 billion, followed by those of Brazil at $63 billion and China at $45 billion.

Among corporate CDS contracts, Brazil's state-controlled energy giant Petrobras led in volume with approximately $2.4 billion.

EMTA's survey includes trading volumes from 13 major international banks and broker-dealers on emerging market CDS contracts from 21 countries and nine corporate issuers. (Reporting by Rodrigo Campos Editing by Susan Thomas)

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