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CDS IndexCo and Markit Announce Additions to the CDX North America Crossover Index Which is Expected to Roll on March 20, 2007
NEW YORK, March 7, 2007 – CDS IndexCo LLC (“CDS IndexCo”), a consortium of 16 investment banks licensed as market makers in the CDX indices, and Markit Group Limited (“Markit”), the leading provider of independent data, portfolio valuations and OTC derivatives trade processing, today announced which companies will be added to the CDX North America Crossover Index (CDX.NA.XO) which is set to roll on March 20, 2007. The portfolio selection process was conducted by Markit, the index administrator, with input from the member banks of the CDS IndexCo consortium.
The member banks that are part of the CDS IndexCo consortium include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.
COMPANIES TO BE ADDED TO AND REMOVED FROM THE CDX NORTH AMERICA CROSSOVER INDEX
The following table outlines the companies that will be added to and removed from the CDX.NA.XO Index. Companies that were removed from the index were announced yesterday, March 6, 2007, after the close of the market via press release. The changes to the index will be effective as of the roll date.
| INDEX | ADDED* | REMOVED# |
| CDX NA XO Series 8 | · Chemtura Corporation · Chesapeake Energy Corporation · Clear Channel Communications, Inc. · L-3 Communications Corporation · RadioShack Corporation · Reynolds American Inc. · The Gap, Inc. · Harrah’s Operating Company, Inc. | · ArvinMeritor, Inc. · ELECTRONIC DATA SYSTEMS CORPORATION · HCA Inc. · Hess Corporation · Quebecor World Inc. · NOVA CHEMICALS CORPORATION · Tyson Foods, Inc. · Xerox Corporation |
The index is scheduled to roll every six months in order to rebalance the portfolio as necessary.
*The underlying names which were added to CDX NA XO Series 8 are not present in CDX NA XO Series 7.
#The underlying names which were removed from CDX NA XO Series 8 remain present in CDX NA XO Series 7.
To view the underlying constituents of each index, daily prices and spreads, constituent information and documentation for CDX NA XO, please go to www.markit.com.
For additional information regarding this press release please contact:
CDS IndexCo
Michael Mandelbaum
Tel: +1 310 785-0810
Email: michael@mandelbaummorgan.com
Markit
Teresa Chick
Tel: +44 20 7260 2094
Email: teresa.chick@markit.com
Note to Editors:
About CDS IndexCo
CDS IndexCo is a consortium of 16 investment banks which are licensed as market makers in the CDX indices. The market makers include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.
About Markit
Markit Group Limited is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial and commodities markets. The company receives daily data contributions from over 70 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance.
Markit's position in the derivatives markets has been acknowledged by the industry with numerous awards. In 2006, the company won Operations Management's Vendor of the Year award (Trade Processing); Financial News' Best Derivatives Data Solution and Best New Vendor Solution (Portfolio Valuations); Credit's Best Operational Support Services Provider; Inside Market Data's Reference Data Provider of the Year, and Company to Watch; Risk's Trading Initiative of the Year (Credit Event Fixings); and Structured Finance International's Editor's Award for Advancing Structured Finance. In 2005, Markit received International Securitisation Report's Editor's Award for Innovation; International Financing Review's Innovation of the Year (Credit Event Fixings); Financial News' Best Derivatives Data Provider; and Operations Management's Vendor of the Year award.