EFTA Document EFTA01393192

sources which report the occurrence of a credit event do not make this information publicly available until alter the expiration date. In this case, the cash settlement value of a credit default option would be zero. There is also a nsk that the listing options market may determine that a credit event has occurred based on information available to it when in fact no credit event has occurred. This could happen, for example, if the sources used to confirm the credit event are erroneous. T