CDS IndexCo and Markit Announce the Roll of the TABX Indices
New York, NY – CDS IndexCo LLC (“CDS IndexCo”), a consortium of 16 investment banks that combined to create tradable synthetic indices, and Markit Group Limited (“Markit”), the leading provider of independent data, portfolio valuations and OTC derivatives trade processing, announced that its TABX indices will roll tomorrow, August 2, 2007.
The TABX indices are standardized tranches of ABX.HE, a synthetic index of U.S. home equity Asset-Backed Securities (ABS). TABX references the underlying names of the ABX.HE BBB and BBB- sub-indices. Both sets of tranches will consist of the same 40 reference entities which constitute the current ABX.HE 07-2 and the previous ABX.HE 07-1 index vintages; the 40 ABX.HE BBB reference obligations underlie the six BBB tranche indices while the ABX.HE BBB- reference obligations underlie the six BBB- tranche indices.
Additional details and considerations concerning the roll of the TABX indices, as well as a complete list of reference obligations, coupons and index RED codes can be viewed at: www.markit.com. TABX will next roll in February 2008.
Markit is the administration, calculation, and marketing agent for the TABX indices. This broad remit includes capturing daily price fixings, publishing monthly fixed and floating payments; handling rules, operations, and marketing; negotiating dealer and data licenses; and communicating information to the wider market.
The licensed dealers of TABX are: ABN AMRO; Bank of America; Barclays Capital; Bear Stearns; BNP Paribas; Citigroup; Credit Suisse; Deutsche Bank; Goldman Sachs; JPMorgan; Lehman Brothers; Merrill Lynch; Morgan Stanley; RBS Greenwich Capital; UBS; and Wachovia.
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For additional information regarding this press release please contact:
Markit
Teresa Chick
Tel: +44 20 7260 2094
Email: teresa.chick@markit.com
CDS IndexCo
Michael Mandelbaum
Tel: +1 310 785 0810
Email: Michael@mandelbaummorgan.com
About CDS IndexCo
CDS IndexCo is a consortium of 16 investment banks which are licensed as market makers in the ABX, CMBX and CDX indices. 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 Markit
Markit Group Limited (“Markit”) is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial markets. The company receives daily data contributions from over 85 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance.