UBS Investment Bank has launched electronic trading of Credit Default Swap (CDS) on Bloomberg for the major ITRAXX and CDX global Indices including SOVX WE and CEEMA SOVX and also for Western sovereign single names.

UBS said in addition to the North American, European and Sovereign indices, it is also publishing live prices across all the Western European single name sovereigns, in order to offer clients electronic trading on the most liquid single name contracts.

UBS Head of Flow IG Credit Trading for North America Anatoly Nakum said that this is one of the many projects the bank has underway to provide liquidity to clients in an increasingly electronic market for CDS.

European Flow Credit Business head Derrick Herndon said when same-day clearing is fully operational next year UBS clients will be able to click, trade and clear across a broad spectrum of instruments.