The Dow Jones CDX Family of Indices Announces Roll Dates for its US Investment Grade, High Yield, Crossover and Emerging Market Credit Derivative Indices
NEW YORK, 6 March 2006 - CDS IndexCo LLC, the owner of the Dow Jones CDX family of credit derivative indices, today announced the roll dates for its US Investment Grade, High Yield, Crossover and Emerging Market credit derivative indices.
The Investment Grade, Crossover and Emerging Market indices will roll on March 20, 2006, while the High Yield index will roll on March 27, 2006. The change in the roll date for the High Yield index is a permanent one as decided upon by the member banks which are part of the CDS IndexCo consortium. In connection with the roll of the High Yield index, the coupon payment and maturity dates for that index will remain unchanged.
Removals from the High Yield index for Series 6 will be announced in a press release after the close of the market today, 15 business days prior to the roll date. Additions to the indices will be announced after the close of the market tomorrow, March 7, 2006 via press release, 14 business days prior to the roll date. Composition of the new series for the investment grade, crossover, emerging market and emerging market diversified indices is due to be announced on March 8, 2006. For future rolls, it is anticipated that the dissemination of information will follow this timeline.
As dictated by the rules governing the indices, a roll is scheduled approximately every six months in order to rebalance the portfolios as necessary. The roll process is conducted with the input of member banks which are part of the CDS IndexCo consortium.
The member banks that are part of the CDS IndexCo consortium include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.
Please see the "Credit Derivative Indexes" link at www.djindexes.com to view the underlying constituents of each index.
Journalists may also e-mail questions regarding this press release to: PR-Indexes@dowjones.com or contact Sybille A. Reitz, Dow Jones Indexes Public Relations, (212) 597-5735 or (917) 603-6987
For more information about any of the Dow Jones CDX family of indices, please contact Teresa Chick at Markit on +44 (0)20 7890 5094 or one of the participating dealers listed below:
ABN AMRO - Patrick Phalon, Corporate Communications, (212) 251-3524Bank of America - Jennifer DiClerico, GCIB Communications, (212) 933-2396
Barclays Capital - Karina Byrne, Corporate Communications, (212) 412-7561
Bear Stearns - Russell Sherman, (212) 272-5219
BNP Paribas - Michael Johnson, (212) 841-2546
Citigroup - Danielle Romero-Apsilos, Corporate and Investment Banking Group Communications, (212) 816-2264
Credit Suisse - John Gallagher, Corporate Communications, (212) 325-0932
Deutsche Bank - Michele Agostinho, Press Office, (212) 250-4864
Goldman Sachs - Ed Canaday, VP, Media Relations, (212) 357-0005
HSBC - Juanita Gutierrez, Media Relations, (212) 525-6282
JPMorgan - Michael Dorfsman, Corporate Communications, (212) 270-7317
Lehman Brothers - Kerrie Cohen, Corporate Communications, (212) 526-4092
Merrill Lynch - Michael Duvally, Media Relations, (212) 449-3260
Morgan Stanley - Mark Lake, Media Relations, (212) 761-0814
UBS - Kris Kagel, UBS Corporate Communications, (212) 713-8703
Wachovia - Jim Pierpoint, VP, Media Relations, (704) 374-6512
Note to Editors:
About CDS IndexCo
CDS IndexCo is a consortium of 16 investment banks which are licensed to be market makers in the Dow Jones CDX indexes. The market makers include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.
About Dow Jones Indexes
Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages and the Dow Jones Global, Regional, Country and Sector Titans Indexes and is co-owner of the Pan-European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes including hedge fund, commodity and credit derivative indexes.
In addition to Dow Jones Indexes, Dow Jones & Company (NYSE: DJ; dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, MarketWatch and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC Universal of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.
Markit Group LimitedMarkit Group Limited is the benchmark industry source of independent pricing and valuations for the global financial and energy markets. Markit has data contributed by over 50 dealing firms, and its services are used by 400 institutions globally. Areas of product expertise include OTC derivatives (credit, equity, FX, rates, inflation, energy, power, metals and structured products), corporate bonds, syndicated loans, dividend forecasting, and index and ETF management.
Markit has most recently brought price transparency to the European asset-backed securities market with the launch of the first independent ABS pricing service. Its position in the derivatives markets has been acknowledged by the industry with awards from Risk Magazine for Trading Initiative of the Year 2006 (Credit Event Fixings); Structured Finance International's Editor's Award for Advancing Structured Finance 2006; International Securitisation Report's Editor's Award for Innovation 2005; International Financing Review's Innovation of the Year 2005 (Credit Event Fixings); Financial News' Best Derivatives Data Provider 2005; and Institutional Investor's Operations Management Award for Vendor of the Year 2005.
NEW YORK, March 6, 2006 - CDS IndexCo LLC, the owner of the Dow Jones CDX family of credit derivative indices, today announced the roll dates for its US Investment Grade, High Yield, Crossover and Emerging Market credit derivative indices.
The Investment Grade, Crossover and Emerging Market indices will roll on March 20, 2006, while the High Yield index will roll on March 27, 2006. The change in the roll date for the High Yield index is a permanent one as decided upon by the member banks which are part of the CDS IndexCo consortium. In connection with the roll of the High Yield index, the coupon payment and maturity dates for that index will remain unchanged.
Removals from the High Yield index for Series 6 will be announced in a press release after the close of the market today, 15 business days prior to the roll date. Additions to the indices will be announced after the close of the market tomorrow, March 7, 2006 via press release, 14 business days prior to the roll date. Composition of the new series for the investment grade, crossover, emerging market and emerging market diversified indices is due to be announced on March 8, 2006. For future rolls, it is anticipated that the dissemination of information will follow this timeline.
As dictated by the rules governing the indices, a roll is scheduled approximately every six months in order to rebalance the portfolios as necessary. The roll process is conducted with the input of member banks which are part of the CDS IndexCo consortium.
The member banks that are part of the CDS IndexCo consortium include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.
Please see the "Credit Derivative Indexes" link at www.djindexes.com to view the underlying constituents of each index.
Journalists may also e-mail questions regarding this press release to: PR-Indexes@dowjones.com or contact Sybille A. Reitz, Dow Jones Indexes Public Relations, (212) 597-5735 or (917) 603-6987
For more information about any of the Dow Jones CDX family of indices, please contact Teresa Chick at Markit on +44 (0)20 7890 5094 or one of the participating dealers listed below:
ABN AMRO - Patrick Phalon, Corporate Communications, (212) 251-3524Bank of America - Jennifer DiClerico, GCIB Communications, (212) 933-2396
Barclays Capital - Karina Byrne, Corporate Communications, (212) 412-7561
Bear Stearns - Russell Sherman, (212) 272-5219
BNP Paribas - Michael Johnson, (212) 841-2546
Citigroup - Danielle Romero-Apsilos, Corporate and Investment Banking Group Communications, (212) 816-2264
Credit Suisse - John Gallagher, Corporate Communications, (212) 325-0932
Deutsche Bank - Michele Agostinho, Press Office, (212) 250-4864
Goldman Sachs - Ed Canaday, VP, Media Relations, (212) 357-0005
HSBC - Juanita Gutierrez, Media Relations, (212) 525-6282
JPMorgan - Michael Dorfsman, Corporate Communications, (212) 270-7317
Lehman Brothers - Kerrie Cohen, Corporate Communications, (212) 526-4092
Merrill Lynch - Michael Duvally, Media Relations, (212) 449-3260
Morgan Stanley - Mark Lake, Media Relations, (212) 761-0814
UBS - Kris Kagel, UBS Corporate Communications, (212) 713-8703
Wachovia - Jim Pierpoint, VP, Media Relations, (704) 374-6512
Note to Editors:
About CDS IndexCo
CDS IndexCo is a consortium of 16 investment banks which are licensed to be market makers in the Dow Jones CDX indexes. The market makers include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.
About Dow Jones Indexes
Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages and the Dow Jones Global, Regional, Country and Sector Titans Indexes and is co-owner of the Pan-European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes including hedge fund, commodity and credit derivative indexes.
In addition to Dow Jones Indexes, Dow Jones & Company (NYSE: DJ; dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, MarketWatch and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC Universal of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.
Markit Group Limited
Markit Group Limited is the benchmark industry source of independent pricing and valuations for the global financial and energy markets. Markit has data contributed by over 50 dealing firms, and its services are used by 400 institutions globally. Areas of product expertise include OTC derivatives (credit, equity, FX, rates, inflation, energy, power, metals and structured products), corporate bonds, syndicated loans, dividend forecasting, and index and ETF management.
Markit has most recently brought price transparency to the European asset-backed securities market with the launch of the first independent ABS pricing service. Its position in the derivatives markets has been acknowledged by the industry with awards from Risk Magazine for Trading Initiative of the Year 2006 (Credit Event Fixings); Structured Finance International's Editor's Award for Advancing Structured Finance 2006; International Securitisation Report's Editor's Award for Innovation 2005; International Financing Review's Innovation of the Year 2005 (Credit Event Fixings); Financial News' Best Derivatives Data Provider 2005; and Institutional Investor's Operations Management Award for Vendor of the Year 2005.
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