What does EDS stand for?

Individual topics include temperature swaps and windstorm bonds, commercial mortgage backed securities in Italy, equity default swaps and the securitization of risk, trends and innovations in the US CDO (collateralized debt obligation) market, covered bonds in Europe, residential pre-sales securitization, securitization of private equity, whole business security in French civil law, and regulatory capital standards for securitization in the Basel II framework.

The tight spread environment led to structural innovations such as short-term funding of senior CDO notes and a search for higher yielding asset classes such as equity default swaps,' said Hedi Katz, Managing Director, Fitch Ratings.

In a CDO that references a pool of equities under an equity default swap contract, the same basic roles exist.