LCDX index tranches make it to market

Risk staff
01 Nov 2007

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Trading of tranches on the LCDX index, which references 100 US leveraged loan credit default swaps, started in early October. But after a strong start, volumes have tapered off. On October 9 - the day CDS IndexCo, a consortium of banks, and London-based data provider Markit launched the product - aggregate trading volume exceeded $2.5 billion. By October 29, it was about $8 billion.

"We have lost some sponsorship. Until the spread environment settles and we see rated structures come back and able

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