Markit today announced that the Markit iTraxx Europe indices will roll into their ninth series on 20 March 2008. Markit is the owner of the Markit iTraxx indices, and a leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial markets.
Markit iTraxx Europe, a family of synthetic indices referencing the most liquid names in the European credit derivative markets, is comprised of the following indices:
· Markit iTraxx Europe Main
· Markit iTraxx Europe Crossover
· Markit iTraxx HiVol
· Markit iTraxx Europe Non-Financials
· Markit iTraxx Europe Senior Financials, and
• Markit iTraxx Europe Sub Financials.
Changes to index composition
Based on liquidity polls, the following changes have been made to the Markit iTraxx Europe family of indices:
· Ten constituents were replaced in the Markit iTraxx Europe Main index.
· Six constituents were replaced in the Markit iTraxx Europe Crossover index.
• Eleven constituents were replaced in the Markit iTraxx Europe HiVol index.
Additional market makers
NORD/LB has become a newly licensed market maker, bringing the total number of market makers for the European iTraxx indices to 36 leading financial institutions.