KOFIA plans to launch credit-default swaps index

Korea’s financial investment association plans to introduce a benchmark for credit-default swaps on the nation’s corporate bonds, according to two officials at the group.

Swaps on notes sold by companies, banks, card issuers and finance leasing firms may be tracked by the index, which the Korea Financial Investment Association plans to start in the fourth quarter of this year, said one of the officials, who asked not to be identified as details are still being determined. The association, also known as KOFIA, is a non- profit organization that promotes the nation’s capital markets.