The Credit Event Fixings are designed to ensure a fair, efficient and transparent process for settlement of credit derivative trades following a corporate default. The Fixings were developed by Creditex and Markit in close cooperation with ISDA and major credit derivatives dealers and are an integral part of ISDA's CDS Index protocols. Creditex and Markit have jointly acted as administrators of the Credit Event Fixings since their inception in June 2005.

For more information on Credit Event Fixings please see the Credit Event Auction Primer (PDF)

The Tradeable Credit Fixings are calculated according to a well-defined methodology. Creditex and Markit worked closely with a panel of seven dealers: RBOS; BNP Paribas; Citigroup; Deutsche Bank; Goldman Sachs; JPMorgan and Morgan Stanley to develop and refine the Credit Fixings methodology. The Fixings are determined for the three most liquid iTraxx indices in the European marketplace: iTraxx 5yr Europe; HiVol and Crossover indices.