The Trac-x index has yet to start trading, due to delays in the implementation of the International Swaps and Derivatives Association’s new credit derivatives definitions. Once launched, Trac-x Europe will comprise the 100 most activity traded credit default swaps in the European market.
JP Morgan Chase and Morgan Stanley plan to offer the index in both funded and unfunded formats, with fixed as well as floating coupons. Like Morgan Stanley’s Tracers product, sub-sectors of the index – technology media and telecoms, consumers, industrials, senior financials and subordinate financials – will also be available.
The week on Risk.net, July 7-13, 2018Receive this by email