Imported from previous forum
Hi Gang,
Page 258 of vol. 7 of the specification describes CDS Instrument Definitions and includes PriceUnitofMeasure (1191) which “Reflect[s] that prices are stated in terms of ‘percent of par’”
I have been led to believe that CDS pricing is stated in terms of upfront spread to the standard coupon. Am I reading the spec incorrectly or is there a disconnect here?
Thanks in advance!