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Credit default swap definition
A credit default swap, or CDS, is a derivative contract that pays out if a borrower fails to repay a debt. It is commonly written on bonds, loans, companies, or governments.
The buyer of a CDS pays the seller regular premiums. In return, the seller agrees to compensate the buyer if a defined credit event happens, such as a default, a bankruptcy, or a debt restructuring.
A credit default swap works much like insurance on a debt, but with two differences from a standard policy. The buyer does not have to own the underlying bond, so a CDS can be used to speculate on a borrower's credit as well as to hedge it. The premium itself signals the market's view of default risk, since a higher CDS premium means higher perceived risk.
Credit default swap Example
You own USD 1 million of a company's corporate bonds and worry that the issuer might default. You buy a credit default swap for protection and pay the seller a regular premium.
If the company defaults, the CDS seller compensates you under the contract terms, so your credit loss is reduced. If the company keeps paying, the premiums are the cost of that protection.
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TMGM 集團下的 Trademax Australia Limited 公司（交易名稱為TMGM），是由澳大利亞證券和投資委員（ASIC）監管的金融服務公司，金融服務牌照號為 436416，公司地址為 Level 28, One International Tower, 100 Barangaroo Avenue, 2000 Sydney, NSW Australia.
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TMGM 集團下的 Trademax Global Limited公司（交易名稱為TMGM），是由瓦努阿圖金融服務委員會（VFSC）監管的金融服務公司，金融牌照號為 40356，註冊地址為 1276, Kumul Highway, Port Vila, Vanuatu, Republic of Vanuatu.
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Trademax Global Markets (SE) Limited, trading as TMGM, is authorized and regulated by the Financial Services Authority (FSA) of Seychelles, with license number SD224. The company is registered at Office No 13, Providence Estate ABIS Centre, Mahe, Seychelles.
Email: support@tmgm.com
TMGM集團下的Trademax Global Markets (International) Pty Ltd公司（交易名稱為TMGM）,是由毛里求斯金融服務委員會監管的金融服務公司. 牌照號為 GB22201012，註冊地址為33, Edith Cavell Street C/o IQ EQ Fund Services (Mauritius) Ltd Port Louis, 11324 Mauritius.
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