The benchmark Markit iTraxx Europe index comprises 125 equally-weighted European names. A HiVol index consisting of the 30 widest spread non-financial names and three sector indices are also published. The Markit iTraxx Crossover index comprises the 40 most liquid sub-investment grade entities.
The Markit iTraxx indices trade 3, 5, 7 and 10-year maturities and a new series is determined on the basis of liquidity every 6 months. Total Return indices are calculated and published hourly for Markit iTraxx Europe, HiVol and Crossover. These indices measure the performance of holding the respective on-the-run Markit iTraxx CDS contracts.