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Article: At Deadline.(Late News)(Tribune Co.)(Chicago Mercantile Exchange Inc.)(Waterton Associates)
- Article from:
- Crain's Chicago Business
- Article date:
- October 30, 2006
CopyrightCOPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Merc aims to offer way to bet on Trib
The Chicago Mercantile Exchange, aiming to be the first exchange to enter the $26-trillion market for credit default swaps, plans to offer contracts that let banks, investors and hedge funds guard against or bet on a bankruptcy, restructuring or other "credit event'' at Tribune Co., according to a filing. The contracts are designed to rise in price as the perceived outlook for the company deteriorates. Such contracts are now only available over the counter. The Merc also aims to offer thefutures on Centex and Jones Apparel Group starting in the first quarter. Jones execs couldn't be reached; a Tribune spokesman says the firm ...