Collateralised FX obligation market takes off


The London-based rating agency last week published its considerations for analysing and rating CFXOs, detailing the structure of the product, principal risks and Fitch's analytical methodology.

"CFXOs are the latest evolution in a trend for the repackaging of market price risk into credit-like synthetic collateralised securitisation structures," said Ken Gill, managing director at Derivative Fitch in London. "Derivative Fitch is working on a number of proposed transactions utilising this

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