Markit PRIMEX is a synthetic CDS index referencing a basket of prime mortgage-backed securities.
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Markit PRIMEX allows investors to take positions in prime RMBS via CDS contracts. Its liquidity and standardisation allow investors to accurately gauge market sentiment around the asset class, and to take short or long positions accordingly.
Uses existing trading conventions of other CDS of ABS indices, with free PV calculator provided by Markit to enhance liquidity and transparency around the index
Daily composite levels, enabling market participants to track movements in prime RMBS market sentiment
Index cashflow calculations and operational functions mirroring the existing framework of Markit ABX and Markit CMBX indices