Markit iTraxx indices are a family of European, Asian and Emerging Market tradable credit default swap indices.
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The rules-based Markit iTraxx indices comprise the most liquid names in the European, Asian, Middle Eastern and African markets. The selection methodology ensures that the indices are replicable and represent the most liquid, traded part of the market.
Markit iTraxx indices allow investors to express their bullish or bearish sentiments on credit as an asset class and portfolio managers to manage their credit exposures actively.
The European Markit iTraxx indices trade 3, 5, 7 and 10-year maturities, and a new series is determined on the basis of liquidity every six months. The benchmark Markit iTraxx Europe index comprises 125 equally-weighted European names. A HiVol index consisting of the 30 widest spread non-financial names and three sector indices are also published. The Markit iTraxx Crossover index comprises the 50 most liquid sub-investment grade entities. Total Return indices are calculated and published hourly for Markit iTraxx Europe, HiVol and Crossover. These indices measure the performance of the respective on-the-run Markit iTraxx CDS contracts.
The Asia-Pacific Markit iTraxx indices typically trade on a 5-year maturity, with a new series determined in the basis of liquidity every six months. Our suite of Asia-Pacific Markit iTraxx indices include the investment-grade Markit iTraxx Asia ex-Japan index with 40 equally-weighted Asian entities, a Markit iTraxx Australia index with 25 equally-weighted Australian entities and a Markit iTraxx Japan index with 50 equally-weighted Japanese entities. Also part of the iTraxx family is the Markit iTraxx CEEMEA index, which is a tradable index, composed of 25 equally weighted corporate and quasi-sovereign entities from Central & Eastern European, Middle Eastern and African countries.
Ability to trade large sizes quickly and confirm all trades electronically
Wide dealer and industry support, allowing for significant liquidity in all market conditions
Pricing freely available daily on all indices, and all index characteristics standardised and documented
Contributed prices from multiple leading banks, with rigorous quality control process applied