At a meeting on March 16, the 12 banks behind the iBoxx CDX tradable index agreed on at least five points that look set to herald a merger between the index and its main industry rival Dow Jones Trac-x within a matter of days. But the agreements limit the scope of the merger to just North America.
The five points agreed upon are as follows: first, any merger should focus on uniting the tradable indices in North America. Second, a global merger should wait until a later date. Third, the