The institutions leading Dow Jones Trac-x, iBoxx and the CJ 50 have given into market pressure and agreed to merge their indexes into a single, global family of credit default swap (CDS) index products. Both dealers and investors have welcomed the move, having long said that the credit derivatives market, especially in Asia, isn’t deep enough to support more than one index.
“This merger was done based on the market feedback. We just didn’t do the merger because we felt like doing it. It was