LCDX index debuts in US
The LCDX North America index of loan credit default swaps (LCDSs) was launched on May 22 following months of negotiation between dealers over the wording of the documentation and, in particular, whether LCDS contracts should be callable.
Details of the index were publicly unveiled on May 21 by CDS IndexCo, a consortium of banks, and London-based data provider Markit, which acts as calculation agent for the product. CDS IndexCo says the index will enable institutional investors to access leveraged
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