Monday, September 15, 2008
If you show me yours, I’ll show you mine
The International Swaps and Derivatives Association Sunday said it had organized a "netting trading session" to reduce risk from a potential Lehman Brothers bankruptcy. The session began at 2 p.m. Sunday and was slated to run until 4 p.m., New York time. All trades are contingent upon a bankruptcy filing at or before 11:59 p.m. Sunday, the association said in a statement on its Website. If there is no bankruptcy filing by then, the trades will cease to exist.