Dynegy credit derivative trades to be settled by auction on Nov. 29

By Susanna Moon

Chicago, Nov. 14 - Dynegy Holdings, LLC's credit derivative trades will be settled by auction on Nov. 29, according to Creditex Group Inc. and Markit Group Ltd.

Markit said on Nov. 10 that no auction would be held to settle loan credit default swap trades referencing Dynegy.

Dynegy Holdings filed for bankruptcy on Monday. Version three of the series 14 Markit LCDX North American index is affected, as are versions two of the series 15 and series 16 indexes. New versions will be issued with the company removed, according to a previous release.

Dynegy Holdings is a Houston-based producer and seller of electric energy, capacity and ancillary services. It Chapter 11 case number is 11-38111.

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