Credit Event Fixings
Credit Fixings
About this Service

Credit Event Fixings

The Credit Event Fixings are designed to ensure a fair, efficient and transparent process for settlement of credit derivative trades following a Credit Event.  The Fixings were developed by Creditex and Markit in close cooperation with ISDA and major credit derivatives dealers and are an integral part of the auction settlement process.  Creditex and Markit have jointly acted as administrators of the Credit Event Fixings since their inception in June 2005.

During a Credit Event Fixing, dealers place executable orders on the Creditex platform for obligations of a particular company that has undergone a credit event, such as filing for bankruptcy. A market standard methodology is used to simultaneously execute these orders and generate a final cash settlement price for eligible credit derivative contracts referencing this entity. Markit verifies the integrity of the process and calculates the final price which it publishes on this website.