Patent ID: 8341053

Claim:
A computer-implemented system for facilitating and monitoring credit default swap (CDS) transactions, comprising: one or more data storage devices; and one or more computer processing devices configured to: receive and store in the one or more data storage devices, information relating to a plurality of CDS transactions, including, for each CDS transaction: an identity of a CDS buyer, an identity of a CDS seller, an identity of a reference entity, one or more financial terms relating to obligations and responsibilities of the CDS buyer and the CDS seller, and one or more credit event terms used for determining the occurrence of a credit event with respect to the CDS transaction, determine, for each unique entity reflected in the stored information, a net position and exposure of that entity in a marketplace of CDS transactions, receive information relating to a reference entity of a CDS transaction from the plurality of CDS transactions, confirm, using information from at least two public data sources, an accuracy of the received information relating to the reference entity, determine, using the information relating to the reference entity and the one or more credit event terms, if a credit event has occurred, notify the CDS buyer of CDS transaction and the CDS seller of the CDS transaction that the credit event has occurred.