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Markit PrimeX
The Markit PrimeX is a synthetic CDS index referencing a basket of prime mortgage-backed securities.
Product summary:

The Markit PrimeX index is scheduled to launch on April 28th, 2010.  The intent of the index is to create a liquid, tradeable tool allowing investors to take positions on prime mortgage-backed securities via CDS contracts.  Its liquidity and standardization will allow investors to accurately gauge market sentiment around the asset-class, and to take short or long positions accordingly.
Key benefits:
The PrimeX indices will allow investors to synthetically gain exposure to Prime RMBS collateral
Each index will serve as a standardized, diverse, and liquid tool referencing securitized fixed-rate or hybrid ARM loans
Vintages will be separated by a cutoff date of July 1st, 2006, creating 4 different sub indices: PrimeX.FRM.1, PrimeX.ARM.1, PrimeX.FRM.2, & PrimeX.ARM.2
Key functions:
For each vintage, one index references fixed rate collateral and one index references hybrid ARM collateral
Markit PrimeX utilizes the existing trading conventions of other CDS of ABS indices, trading on price with a free Markit calculator available to all market participants
Index cashflow calculations and operational functions mirror the existing framework of the Markit ABX.HE and CMBX indices
Related Information
Index Annexes
ABCDS Pricing
US Reference Cashflow Database
Request PrimeX Calculator
 
PrimeX Subscription
For more information on Markit's services including full history for all PrimeX indices and automated daily feeds, please email sfsales@markit.com.
For more information about Markit, please contact us at any of our regional offices
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