The CDS Reference Rate provided by TIFFE is used by many financial institutions and investors for CDS, corporate bond, and corporate analysis as transparent and reliable price information for credit risk. It is calculated with the cooperation of now 15 financial institutions currently designated by TIFFE for the purpose of increasing usefulness and market scale and depth of the CDS market.
*The number of distributed reference entities will now be 89 (previously 78 entities).
We believe the addition of UBS Securities and Merrill Lynch Japan will further strengthen the Rate’s reliability, and the increase in number of provided corporate rates will further deepen the Rate’s usefulness.
The CDS Reference Rates are provided by TIFFE free of charge from its designated homepage (http://www.j-cds.com/) and major information vendors (QUICK, Jiji Press, Telerate, Reuters Japan).
For details on the TIFFE CDS Reference Rate, please refer to our homepage mentioned above.
TIFFE’s 15 designated financial institutions are as follows:
- Barclays Capital Japan Limited
- Bear Stearns (Japan) Ltd.
- Credit Suisse First Boston Securities (Japan) Limited
- Deutsche Securities Limited, Tokyo Branch
- J.P. Morgan Securities Asia Pte. Limited
- Lehman Brothers Japan Inc.
- Merrill Lynch Japan Securities Co., Ltd.
- Mitsubishi Securities Co.,Ltd.
- Mizuho Corporate Bank, Ltd.
- Mizuho Securities Co., Ltd.
- Morgan Stanley Japan Limited
- Nikko Citigroup Limited
- Sumitomo Mitsui Banking Corporation
- UBS Securities Japan Ltd.
- UFJ Bank Limited
