Markit Group announces plans to roll five CDX indexes in coming weeks

By Angela McDaniels

Tacoma, Wash., March 9 - Markit Group Ltd. said the index roll process for five of its Markit CDX index series has begun.

Investment grade, high yield

The list of additions and the provisional composition of the Markit CDX North America Investment Grade index series 14 will be published Wednesday. The coupon will be published March 17, the final annex will be published March 19, and roll trading will begin March 22.

The company said International Lease Finance Corp. is no longer eligible for inclusion in the index due to its ratings, and Wells Fargo & Co. will be removed from the index following the completion of its merger with Wachovia. As a licensed CDX market maker, it is no longer eligible for inclusion.

The list of names removed from the Markit CDX North America High Yield index series 14 will be published Wednesday, and the list of additions and the provisional composition of the index will be published Thursday. The coupon will be published March 24, the final annex will be published March 26, and roll trading will begin March 29.

The composition of the subindexes will be published Friday for the investment-grade index and Monday for the high-yield index.

The eligible dealers for the investment-grade and high-yield indexes are Barclays Capital, BNP, Bank of America Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, RBS, UBS and Wells Fargo/Wachovia.

Emerging markets

Following a round of voting, it has been determined that there will be no changes to the composition and weighting of the Markit CDX Emerging Markets and Markit CDX Emerging Markets Diversified indexes for this roll.

The coupons for the Markit CDX Emerging Markets index series 13 and Markit CDX Emerging Markets Diversified index series 11 will be published March 17, the final annexes will be published March 19, and roll trading will begin March 22.

The eligible dealers for the emerging markets index are Barclays Capital, Bank of America Merrill Lynch, Citigroup, Credit Suisse, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, RBS and UBS. The eligible dealers for the emerging markets diversified index are Barclays Capital, Citigroup, JPMorgan, Morgan Stanley and UBS.

Municipals

The list of names removed from the Markit MCDX North America index series 14 will be published Monday, and the provisional composition of the index will be published March 16. The coupon will be published March 31, the final annex will be published April 1, and roll trading will begin April 5.

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