The Markit MCDX index is a credit index referencing municipal single name CDS.
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Markit MCDX is owned, marketed, administered and calculated by Markit. The index helps enhance liquidity in the single name CDS market.
The index includes the following primary characteristics: reference entities, reference obligations, ratings, credit events, recovery rate assumptions for upfront and unwind calculation, roll dates, tenor and quotation standard.
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