To preview my intervention today, I would tend to conclude with a positive assessment of the future for these products, subject to the condition that they are appropriately organised and regulated, and traded through an adequate infrastructure.
It is worthwhile to note that there is a broad consensus on this assessment, which is in line with for example the “Observations on Management of Recent Credit Default Swap Credit Events” which were submitted by the so-called Senior Supervisors Group to the Financial Stability Forum on 9 March 2009.