Lehman default swaps still pending, DTCC says

From MarketWatch:

An industry clearing organization said late Tuesday that it was still awaiting final results from the settlement of Lehman Brothers' credit-default swaps, a massive financial transfer that would add significant support to a recovery in the credit markets.

The Depository Trust & Clearing Corp. will issue a statement when the settlement is completed, according to spokeswoman Melanie Best. She declined to comment on timing.

Payments under these derivatives contracts have to be made by the close of business Tuesday.

The International Swaps and Derivatives Association, the group that represents swaps dealers, issued a statement just before 6 p.m. Eastern noting the "success" of the Lehman settlement...MORE including over 100 comments