Frankfurt-based International Index Company (IIC) has appointed UK-based data services provider Markit as exclusive calculation agent for the iTraxx indexes, which track the prices of credit derivatives.Markit will be responsible for collecting price data and calculating and publishing the daily closing values. The indexes include European, high-volatility, Asia ex-Japan, Japanese, Australian and other sub-indexes.Markit already provides a weekly tradeable credit fixing for the Europe, HiVol and Crossover indexes, via an online auction operated with New York-based electronic trading platform Creditex.IIC chief executive David Mark said the move was aimed at improving user confidence in the indexes, as the number of structured products referencing iTraxx increases.
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