Trac-x expands into Australia

New angles

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JP Morgan Chase and Morgan Stanley have launched the Trac-x Australia index,the latest addition to the Trac-x suite of global credit default swap indexescreated by both firms.

The two banks are also preparing to launch their next index, the Trac-x Asia,in the next few months.

Pricing on the first series of the Trac-x Australia began on September 24, with several trades executed on the day, says Russell Taylor, head of credit sales for JP Morgan Chase in Sydney. Theindex consists of a basket

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