CDX indices are a family of tradable credit default swap (CDS) indices covering North America and emerging markets.
CDX covers multiple sectors, including:
- CDX North American Investment Grade
- CDX North American Investment Grade High Volatility
- CDX North American High Yield
- CDX North American High Yield High Beta
- CDX Emerging Markets
- CDX Emerging Markets Diversified
The indices roll semi-annually in March and September. Credit events that trigger settlement for individual components include bankruptcy and failure to pay, wherein credit events are settled via auctions.
Our selection methodology for CDX ensures that the indices represent the market’s most liquid segment. The CDX index’s high liquidity and transparency enable you to trade credit index tranches, options and first-to-default baskets.
- Trading efficiency – Trade large sizes quickly and confirm all trades electronically
- Liquidity – Benefit from wide dealer and industry support, allowing for significant liquidity in all market conditions
- Transparency – Depend upon standardized and well documented indices with pricing freely available daily on all indices and all index characteristics
- Data integrity – Rely on a rigorous quality control process with contributed prices from multiple leading banks