They include banks and hedge funds that have acquired credit - default swaps ( CDSS ), the cornerstone of the market.
他们中包括购买了作为市场基石的信用违约互换 ( CDSs ) 的银行和对冲基金.
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CDSs are not the only members of the derivatives hall of shame.
信贷违约互换并不是衍生品耻辱簿上唯一的名字.
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CDSs are over - the - counter contracts negotiated by two parties.
CDS是 由双方谈判的场外交易合约.
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But naked CDSs have played an important and direct role in destabilising the financial system.
但无实体CDS在破坏金融体系稳定方面发挥了重要而直接的作用.
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So when managers wanted to sell a synthetic CDO, they simply created some more CDSs.
因此,欲出售新的合成CDO, 只需创造更多的CDS即可.
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