“The index launch is the result of increased growth in the ABS/MBS market and rising interest from investors in having independent, market-standard indexes. The new index provides investors and other market participants with a high-quality underlying as the basis for derivatives products,” said David Mark, chief executive of IIC.
IIC designed the index in partnership with ABN Amro, BNP Paribas, Deutsche Bank, Dresdner Kleinwort Wasserstein, JP Morgan and Morgan Stanley. They will all contribute to the dealer poll and provide daily prices for the index constituents via Markit’s ABS pricing service, along with the following institutions: Bank of America, Barclays Capital, Calyon, Citigroup, Credit Suisse, DZ Bank, HSBC, HVB, Ixis, Lehman Brothers, Merrill Lynch, Royal Bank of Scotland, Société Générale and UBS.
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