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Bondholders are ratcheting up pressure on high-yield borrowers to make financial data public.
“Project Mars” will develop an electronic system for investors to request allocations of new debt.
“We want to create a healthier leveraged-finance market that will be able to withstand the volatility that 2019 may bring,” say new group's spokeswoman.
Banks are rewriting the fine print on bonds, while companies warn investors of potential Brexit ramifications.
New system launching this year will compete with platform used by BofAML, Citi, and JPMorgan Chase.
ISDA may set up protocol allowing parties to update derivatives agreements based on Libor.
So far this month, sales up 400% from the same period last July.
Trading of credit-default swaps on European sovereign debt jumps on threats to future of euro.