As we read in newspapers about Credit Default Swaps (CDS).What does CDS means?
(A) It is default-triggered credit derivatives instrument and is a contract between two counter parties.
(B) According to the International Swaps and Dealers Association, the CDS market touched $63 trillion at
the end of 2007 from $ 900 billion in 2001.
(C) In this buyer market periodic payments to a seller in exchange for a right to a pay-off if there is a
default by a third party.