Markit LCDX
Markit LCDX consists of 100 reference entities, referencing 1st lien loans listed on the Markit Syndicated Secured List.
Product summary:

The Markit LCDX index has these characteristics: Reference Entities, Deliverable Obligations, Tenor, Quotation Standard, Credit Events (Failure to pay; Bankruptcy), Recovery Rate assumptions for Upfront and Unwind Calculation, Roll Dates, Syndicated Loans Early Termination loans and Credit Event Settlement.

Key benefits:
Trading efficiency - Participants can trade large sizes quickly and confirm all trades electronically.
Liquidity - Wide dealer and industry support allow for significant liquidity in all market conditions
Market acceptance - Markit CDX indices are accepted as a key benchmark of the overall market credit risk
Standardization - All characteristics are standard and documented leaving no room for interpretation
Transparency - Pricing is freely available daily on all indices
Key functions:
Exposure to the loans asset class - Participants can easily gain exposure to a diversified portfolio of loans
Hedge cash loan positions - Indices are an efficient liquid method to hedge a portfolio's credit risk via a transparent and standardized basket
Enhance liquidity in the single name market - The liquidity of the index flows into the single name CDS market
Index Trade Volume
Daily CDS Index Trade Volume Data
Related Links
Credit Fixings
Index Documents
Index Annex
Confirmations
Index Annex Archives
Confirmations Archives
Primers
Settled Entity Matrix
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