The Markit ECMBX Index is expected to consist of four sub indices: one Sterling-AAA, one Sterling-BBB, one Euro-AAA, and one Euro-BBB.

The indices will each consist of 20 single name PAYG CDS referencing eligible European CMBS bonds and are expected to roll on a semi-annual basis. Constituents will be selected according to a defined set of rules.

For further information on the Markit ECMBX Index please contact Nathan Kirk on

+44 20 7260 2048, or nathan.kirk@markit.com.

More About Markit ECMBX

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

Calculation

Capturing daily price fixings
Publishing monthly fixed and floating payments
Supplying a calculator for the settlement of trades

Administration

Coordinating issues around rules
Coordinating operations

Marketing

Negotiating dealer and data licences
Producing marketing materials
Communicating information to the wider market