Volatility forces iBoxx to change index rules

Index provider Markit updated the pricing methodology on the Markit iBoxx indices on December 29 in response to concerns that its prices were not accurately reflecting market levels. Rules governing the consolidation of prices for the indices were changed in an attempt to improve the pricing in illiquid and volatile markets.

Some fund managers had been critical of iBoxx, questioning its reliability as a pricing valuation tool in a market of low liquidity and extreme volatility. Many were concerne

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