Corporate Credit-Default Swap Indexes Rolling Into New Series
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The latest series of indexes measuring the cost of protecting against default on corporate debt started trading today.
Gauges of credit-default swaps on companies in Europe and Japan rolled into their 20th series. The 21st version of the Markit CDX North America Investment-Grade Index also opens today, while the new Markit iTraxx Asia ex-Japan series starts Sept. 23. New benchmarks are created every six months when companies are added or dropped depending on their ratings, cost of protection and ease of trading.