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Credit Default Swap

Trade Type: CreditDefaultSwap
Trade Components: Leg Data with Leg Type Fixed
Schedule Data

A CDS is a credit derivative between two counterparties. The buyer of a CDS makes premium payments to the CDS seller. In return, the seller agrees that in the event that an underlying reference entity defaults or experiences a credit event, seller will compensate the buyer, in relation to a financial instrument issued by the reference entity.
The reference entity is typically a corporation, government that has issued loans or bonds, and is not party to the CDS contract.

This example is a 10 year CDS on reference entity Tesla, with both an upfront fee, and running premium payments.