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iTraxx

iTraxx indices are a family of European, Asian and emerging market tradable credit default swap indices.

The rules-based iTraxx indices comprise the most liquid names in the European, Asian, Middle Eastern and African markets. The selection methodology ensures that the indices are replicable and represent the most liquid, traded part of the market.

iTraxx indices allow investors to express their bullish or bearish sentiments on credit as an asset class and help portfolio managers actively manage their credit exposures.

Europe

The European iTraxx indices trade 3, 5, 7 and 10-year maturities, and a new series is determined on the basis of liquidity every six months. The benchmark iTraxx Europe index comprises 125 equally-weighted European names. The iTraxx Crossover index comprises the 75 most liquid sub-investment grade entities. Total Return indices are calculated and published hourly for iTraxx Europe, Asia and Crossover. These indices measure the performance of the respective on-the-run  iTraxx CDS contracts.

Asia & Emerging Markets

The Asia-Pacific iTraxx indices typically trade on a 5-year maturity, with a new series determined in the basis of liquidity every six months. Our suite of Asia-Pacific iTraxx indices include the investment-grade iTraxx Asia ex-Japan index with 40 equally-weighted Asian entities, a iTraxx Australia index with 25 equally-weighted Australian entities and a iTraxx Japan index with 50 equally-weighted Japanese entities. Also part of the iTraxx family is the iTraxx CEEMEA index, which is a tradable index, composed of 25 equally weighted corporate and quasi-sovereign entities from Central & Eastern European, Middle Eastern and African countries.

Key benefits:

  • Trading efficiency – Trade large sizes quickly and confirm all trades electronically
  • Liquidity – Leverage wide dealer and industry support, allowing for significant liquidity in all market conditions
  • Transparency – Rely on pricing being made available daily, with all index characteristics standardized and documented
  • Data integrity – Trust in contributed prices from multiple leading banks and rigorous quality controls

Products and Solutions

Customers

  • Banks
  • Asset managers
  • Hedge funds
  • Insurance companies
  • Corporate treasurers

CDS Index Commitments

Summary
On 20 July 2016, the European Commission issued a decision in Case COMP/AT.39745 - CDS Information Market in which it accepted certain commitments offered by Markit. The commitments are available from the European Commission's website.

The commitments adopted by the Commission include:

  • A commitment by Markit to grant licences to create and/or trade exchange traded financial products based on the iTraxx and CDX indices on FRAND terms
  • A commitment by Markit to adopt revised terms of reference governing the CDX and iTraxx index advisory committees. The revised terms of reference may be found under the Documentation pages for each index

In connection with the CDX and iTraxx index advisory committees, Markit would like to invite firms who are interested in joining any of the advisory committees listed below to please contact either itraxxadvisory@ihsmarkit.com or cdxadvisory@ihsmarkit.com in the first instance.

  • Markit CDX IG and HY Advisory Committee
  • Markit CDX EM Advisory Committee
  • Markit MCDX Advisory Committee
  • Markit iTraxx Europe Advisory Committee
  • Markit iTraxx Asia ex-Japan Advisory Committee
  • Markit iTraxx Australia Advisory Committee
  • Markit iTraxx Japan Advisory Committee

Monitoring Trustee
IHS Markit has appointed FTI as the Monitoring Trustee to monitor its compliance with these commitments. FTI's contact details are set out below:

FTI Investigations, LLC
c/o FTI Consulting, Inc.
3 Times Square, 9th Floor
New York, NY 10016
(p)+1 212-651-7148
(f)+1 212-841-9350
monitoringtrustee@fticonsulting.com

News & Information

Important notifications and public information about our indices, including changes to upcoming series following index rolls, credit events on constituents and issuance of new indices.
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Documentation

Publicly available documentation relating to our indices, including methodologies, annexes and educational guides, as well as trading and legal documents for tradable indices.
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Events

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Training & User Group 19 July 2018

IHS Markit Compliance Series - The CRS Editio (...)

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Training & User Group 16 August 2018

IHS Markit Compliance Series - The CRS Editio (...)

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Training & User Group 26 July 2018

IHS Markit Compliance Series - The CRS Editio (...)

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Training & User Group 20 September 2018

Loan Market Conference

Join us for a conference for users of IHS Markit (...)

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Training & User Group 02 August 2018

IHS Markit Compliance Series - The CRS Editio (...)

Join IHS Markit compliance series and understand (...)

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