# iCDS: CDS Pricer > Credit Default Swap upfront fee calculator based on the ISDA CDS Standard Model. (iPhone/iPad app by James Zucker.) - Source: https://appshunter.io/ios/app/icds-cds-pricer/id344971069 (this page in markdown: same URL + `.md`) - Developer: [James Zucker](https://appshunter.io/developer/344971072) - Category: Finance - Price: Free - Rating: 3.94/5 from 17 App Store ratings · 10 written reviews indexed - Age rating: 17+ - Requires: iOS 16.0 · 1 MB - Languages: English - Released: 2010-02-05 - Data updated: 2026-08-05 - Monetization: free - User reviews in markdown: https://appshunter.io/ios/app/icds-cds-pricer/id344971069/reviews.md ## What is iCDS? iCDS is a free Credit Default Swap upfront fee calculator built on the official ISDA CDS Standard Model — the same pricing engine used across institutional fixed-income desks. Enter a quoted spread, coupon, recovery, notional, and tenor. iCDS computes the SNAC (Standard North American CDS) upfront charge live as you change inputs, with the dirty upfront, accrued, par spread, and first-order risk metrics visible alongside. WHAT'S INSIDE • ISDA CDS Standard Model (v1.8.3) compiled directly into the app • Seven SNAC maturities in one segmented row: 1Y / 2Y / 3Y / 4Y / 5Y / 7Y / 10Y • DIRTY UPFRONT card — total cash to settle (upfront fee + accrued), with components shown alongside • Default-risk-by-maturity chart — implied cumulative default probability at each tenor; tap a bar to price it • First-order risk metrics on every trade — CS01, IR DV01, Rec01 (bump-and-reprice) • Live overnight reference-rate curves from five central banks: – USD SOFR (Federal Reserve Bank of New York) – EUR €STR (European Central Bank) – GBP SONIA (Bank of England) – JPY TONA proxy (FRED / St. Louis Fed) – AUD AONIA (Reserve Bank of Australia) • Six regional contracts: NA, EM, EU, Asia, Japan, AUS • Spread input via preset chips and a numeric keypad; cap raised to 10,000 bp for distressed credits • ISDA RFR test-grid validation across all five currencies • In-app Diagnostics tab — deterministic self-tests for the pricing engine, IMM helpers, regional holiday calendars, and live overnight-rate fetchers WHO IT'S FOR Quantitative finance students, fixed-income professionals, and developers exploring CDS pricing. Source is open under Apache 2.0. NOT FOR Booking, settlement, trading, or any decision with real money behind it. iCDS produces indicative pricing only — not financial, investment, or trading advice. Rates may be delayed; calculations use a flat overnight-rate discount curve, a standard simplification. PRIVACY No data collection. No tracking. No accounts. Reference rates are fetched live from public central-bank endpoints. LICENSE Source code: Apache 2.0. Pricing engine: ISDA CDS Standard Model Public License (© 2009 JPMorgan Chase Bank, N.A., developed with Markit). Not affiliated with, endorsed by, or sponsored by ISDA, Markit, JPMorgan Chase, or any rate provider. ## Key features - ISDA CDS Standard Model pricing engine - SNAC maturities for 1Y to 10Y - Dirty upfront fee calculation - Implied default probability chart - First-order risk metrics (CS01, DV01) - Live overnight reference-rate curves - Regional contract pricing ## Recent user reviews (10 of 10) All indexed reviews: https://appshunter.io/ios/app/icds-cds-pricer/id344971069/reviews.md ### 5/5 — Great app *2011-07-28* Amazing !!! ### 5/5 — Financial developer *2010-05-13* This app is truely innovative every credit trader should use it. I love it ### 5/5 — Managing director, bond portfolio mgr *2010-05-11* Very easy to use app. Instructions, links and glossary are especially useful. Quick intuitive calculator. ### 5/5 — CDStastic *2010-03-11* Cool App ### 5/5 — Cool app *2010-03-10* Love it. ### 5/5 — ICDS fan 101 *2010-03-02* Great looking calculator, very easy to use and accurate. ### 5/5 — Great application! *2010-02-10* Excellent app! It calculates the upfront fee on a Credit Default Swap (reset to par + unsettled interest on the current coupon). Very useful for those who work with CDS´s. The app is easier to use (and it has a better look-and-feel) than Bloomberg. GREAT JOB!!! ### 5/5 — A unique merging of Main St. technology with Wall St. functionality *2010-02-09* This is a great application that should be downloaded and used. Feedback should be shared with the author so that he and other IPhone app developers can continue to build applications like this for the finance world. ### 5/5 — Easier to use for SNAC than BBG CDSW *2010-02-08* iCDS is easier to use for SNAC calculations than a Bloomberg CDSW. Great App that would benefit from the ability to e-mail the fee to your counterparty. ### 5/5 — great app *2010-02-06* great app really useful ## Frequently asked questions about iCDS ### What is iCDS used for? iCDS is a free calculator for Credit Default Swap upfront fees. It utilizes the ISDA CDS Standard Model to compute SNAC upfront charges based on user inputs like spread, coupon, and tenor. ### What financial metrics does iCDS provide? iCDS displays the SNAC upfront charge, dirty upfront fee, accrued interest, par spread, and first-order risk metrics such as CS01 and IR DV01. ### Does iCDS offer real-time market data? iCDS fetches live overnight reference-rate curves from five central banks (USD, EUR, GBP, JPY, AUD) and supports six regional CDS contracts. However, it is not for booking or trading, producing indicative pricing only. ### What is the pricing model for iCDS? iCDS is a free application. The description explicitly states it is free and does not mention any in-app purchases or subscription requirements. ### Is iCDS suitable for beginners in finance? Yes, iCDS is designed for quantitative finance students and professionals. It provides a practical tool for understanding CDS pricing mechanics. ### What is the age rating for iCDS? iCDS has an age rating of 17+. This is likely due to the complex financial concepts and calculations involved. ### How often is iCDS updated? The latest version is 3.2.1, last updated on May 18, 2026. This indicates a history of updates, though the specific frequency is not detailed. ### Does iCDS collect user data? No, iCDS emphasizes privacy with no data collection, tracking, or accounts required. Reference rates are fetched live from public central-bank endpoints. ## Version history (last 3 releases) ### 3.2.1 — 2026-05-18 NEW - Seven SNAC maturities in one segmented row: 1Y / 2Y / 3Y / 4Y / 5Y / 7Y / 10Y. Pick any tenor in one tap. - Default-risk chart — cumulative default probability at each maturity; tap a bar to price that tenor. - Risk metrics on every trade — CS01, IR DV01, Rec01 (bump-and-reprice). - DIRTY UPFRONT card — total cash to settle (upfront + accrued), in trader vocabulary. IMPROVED - Updated SNAC conventions — EM moved to T+1 settlement; subordinated recoveries cut (EM 25→15%, Japan 35→15%); Japan now offers a 500 bp coupon. - Diagnostics tab — on-device self-tests for the pricing engine, IMM dates, regional holiday calendars, and live overnight-rate fetchers. ### 3.01 — 2026-05-05 • Rebuilt UI in SwiftUI — clearer layout and faster interaction • Updated for iOS 16 and current iPhone/iPad models • Live overnight reference rates from five central banks (USD SOFR, EUR €STR, GBP SONIA, JPY TONA, AUD AONIA) • Six regional contracts: NA, EM, EU, Asia, Japan, AUS • Spread input via preset chips and numeric keypad; cap raised to 10,000 bp for distressed credits • "Documentation & Source" button on the Info screen • Apache 2.0 source license + full data-source attributions • New documentation site: jimzucker.github.io/iCDS ### 3.0 — 2026-04-25 * Addressed iOS 9 Compatibility * Updated to Swift, new UX by Claude Code ## More apps by James Zucker - [iInteract: Communication Board](https://appshunter.io/ios/app/iinteract-communication-board/id363448448) All apps by James Zucker: https://appshunter.io/developer/344971072 ## Related topics [ijaz software](https://appshunter.io/ios/topics/ijaz-software) · [isda](https://appshunter.io/ios/topics/isda) --- *Data collected daily from the US App Store and indexed by [AppsHunter](https://appshunter.io/). User reviews are verbatim App Store reviews. Ratings, prices and chart positions refresh continuously; this snapshot is from 2026-08-05.*