Markit Readies LCDX Index Launch
The index, which allows investors to go long or short on North American syndicated secured loans, is the US equivalent of iTraxx LevX, the European leveraged loans index launched in October 2006.
LCDX will contain 100 reference entities with first-lien designated priority—the most senior class of debt-holders. Data extracted from credit agreements will be used to identify the securities for the index. Counterparties will be able to use this data as part of their confirmation processes to
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