Following on from Movie Gallery's failure to pay a coupon due this month, the first credit event for the Markit LCDX index has been declared. The event determination date has been set as 19th September 2007 (the date accruals on the Movie Gallery portion of the index) for all institutions who sign the 'Uniform Settlement Agreement'.

As expected, the Markit LCDX Members have voted to run a credit event auction to settle trades referencing Movie Gallery. Further information will appear here shortly on the auction.

LCDS Auction

Movie Gallery Auction Settlement Terms (pdf) Movie Gallery Auction Settlement Terms published on 5th October, 2007 Cumulative Blackline - Movie Gallery Auction Terms (doc) Cumulative Blackline for Movie Gallery Auction Terms published on 5th October, 2007 LCDS Auction Settlement Terms (pdf) Markit LCDS Auction Settlement Terms published on September 25 LCDS Auction Rules (with Auction Terms) (pdf) Markit LCDS Auction Rules published on May 22, 2007