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Markit Readies Tradable Bond Index March 05, 2010

--Katy Burne

Markit is working on a tradable cash bond index that would track the most liquid investment grade corporate bonds in North America, according to Derivatives Week, a TSCI sister publication. The firm is working with multiple market makers on the project but a timeframe for launch could not be determined. The new index would be different from Markit’s iBoxx family of indices, which are used solely for benchmarking, and from other benchmarking indices like the Barclays Capital Aggregate Bond Index, formerly owned by Lehman Brothers.

The idea is to have investors buy a note issued by a trust, which would take the capital and buy into a set basket of corporate ...

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