Working in conjunction with a consortium of key commercial mortgage-backed security trading desks Markit acts as the administration, calculation, and marketing agent for Markit CMBX. Under this broad remit, Markit will provide a number of services and functions to facilitate the transparency, liquidity and standardization of this new benchmark index:

Calculation

Capture daily price fixings
Publish monthly fixed and floating payments
Supply a calculator for the settlement of trades

Administration

Coordinate issues around rules
Coordinate operations

Marketing

Negotiate dealer and data licenses
Produce marketing materials
Communicate information to the wider market