Markit ERMBX Update

London - Markit today announced that it is working with a broad group of dealers on documentation for a European residential mortgage-backed index. The ERMBX.UK is designed to reference synthetic U.K. prime mortgage-backed securities. Markit is the owner of the widely traded iTraxx and CDX credit derivative indices and the synthetic structured finance and loan indices ABX.HE, CMBX, LCDX and LevX.

Following extensive feedback from all market participants, and in light of the current volatile market conditions, it has been agreed that any decision regarding the launch of the new index will be made at a later date.

Ben Logan, Managing Director of Structured Finance at Markit, said: “It is Markit’s desire to create an index that will attract market support and be actively traded. We will continue to work towards completing the documentation for the index, and will update the market on any decisions that are taken about the launch in due course.”

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For more information please contact:

Teresa Chick
Managing Director, Corporate Communications
Markit
Tel: +44 20 7260 2094
Email: teresa.chick@markit.com

About Markit
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 90 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance.