Credit default swaps trading in developing nations climbed 22% to USD1.45 trillion in 2010, though volume in the fourth quarter was off 41% compared with a year earlier, according to EMTA, the emerging markets trading association. EMTA said Brazil led in creditworthiness with the South American country first among actively traded sovereign contracts at USD43 billion of turnover, followed by Turkey (USD22 billion) and Mexico (USD17 billion).

Click here to read the release from EMTA