Markit Group updates LevX index

Markit has announced the launch of the Markit iTraxx LevX Series 2 leveraged loan index for European loans.

The new index will begin trading on March 17, and will have some significant differences from the original index of European synthetic loan names.

The contracts will be non-cancellable, meaning the loan contracts do not terminate in the event of a refinancing of a reference obligation. They are replaced by an equivalent obligation, bringing the contracts closer to the US LCDX index.

Unlike th

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