Markit iTraxx LevX Indices

The Markit iTraxx LevX indices rolled into the non-cancellable Series 2 on Monday, 17th March, 2008.

The coupon levels have been set at 525 bps for the LevX Senior and 825 bps for the LevX Subordinated. Recovery rate assumptions for the LevX Senior are 70% and for the LevX Sub 40%.

The Markit iTraxx LevX Senior Series 2 Index comprises of the 75 most liquid 1st lien credit agreements traded in the European Leveraged Loan CDS market.

The Markit iTraxx LevX Subordinated Series 2 Index comprises of the 45 most liquid 2nd and 3rd lien credit agreements traded in the European Leveraged Loan LCDS market.

Product briefing presentations and other index-related documentation are available here.

Markit Announces LevX Volumes on First Day of Trading

Markit today announced that the Markit iTraxx LevX (“LevX”), which rolled into its second series on 17 March 2008, traded more than EUR 2.8 billion on its first day of trading. These estimated volumes are based on a desk-by-desk survey of market makers conducted by Markit at close of business yesterday.

Official Markit iTraxx LevX Pricing

In its role as calculation agent, Markit calculates the official mid-day (11am GMT) and end-of-day (4:30pm GMT) levels for the Markit iTraxx LevX suite of indices on a daily basis. The results are published below.

Licensed Marketmakers – Markit iTraxx LevX Index

 The following are licensed marketmakers for the Markit iTraxx LevX index:

Bank of America	Barclays Capital
Bear Stearns	BNP Paribas
Calyon	Credit Suisse
Deutsche Bank	Dresdner Kleinwort
Goldman Sachs	JP Morgan
Lehman Brothers	Merrill Lynch
Morgan Stanley	Royal Bank of Scotland
UBS