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Email The International Swaps and Derivatives Association, Inc. (“ISDA”) is currently facilitating several initiatives that are designed to strengthen the infrastructure for credit default swap (“CDS”) transactions and enhance the liquidity and transparency of the markets for standardized CDS. https://www.cadwalader.com/resources/clients-friends-memos/isda-auction-hardwiring-and-other-market-initiatives-strengthening-the-infrastructure-for-cds-transactions