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A case making its way through the Second District Court of New York may turn the CDS market, and its participants, on their respective ears. The function, and the form, of the CDS going forward are likely to change as a result.   https://tabbforum.com/opinions/the-future-of-the-cds-market-insurable-interest-and-the-gso-slash-hovnanian-quagmire

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