JP Morgan Chase and Morgan Stanley launch Trac-x Japan CDS index
The banks said in a joint statement that the portfolio “will be reviewed every six months to ensure that the index maintains appropriate liquidity, credit ratings, and industry diversification, thereby providing a new tradable index every half year.”
Trac-x Japan is part of JP Morgan Chase and Morgan Stanley’s global agreement to merge their credit derivatives indexes under the Trac-x name. The banks have already launched Trac-x Europe as well as options based on Trac-x Europe.
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