Trading shutdown hits ABS index launch
Problems in the European asset-backed securities market have caused Markit Group to delay the launch of its new European residential mortgage-backed index indefinitely.
Markit says it is working with a group of dealers on documentation for the European index, but that feedback from market participants was unequivocally in favour of dropping the launch given the current volatility.
The index - the ERMBX.UK - is designed to reference synthetic UK prime mortgage-backed securities. Though the UK MBS
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