NEW YORK, Aug 19 (IFR) - The International Swaps and
Derivatives Association (ISDA) has delayed the auction to settle
Argentina's credit default swaps until at least September.
ISDA's 15-member determinations committee voted unanimously
Tuesday to postpone the auction until at least after September
The committee today began discussing a challenge it received
regarding the inclusion of two Japanese-law restructured notes
into the list of securities deliverable into the auction.
As the challenge needs to be resolved before the auction can
take place, the committee opted to postpone the date of the
auction from the originally scheduled August 21.
The auction, run by Creditex and Markit, will determine the
payout that holders of protection on Argentine bonds will
receive as a result of the sovereign's default on July 30.
(Reporting by Davide Scigliuzzo; Editing by Marc Carnegie)