What is the iTraxx Xover?
Key Takeaways. iTraxx is a collection of indexes for the credit default swap market in Europe, Australia, and Asia. 1. These indexes allow market makers and active participants in the swaps market to take the other side of trades for a short period and provide liquidity in these markets.
What is CDX and iTraxx?
CDX indices contain North American and Emerging Market companies and are administered by CDS Index Company (CDSIndexCo) and marketed by Markit Group Limited, and iTraxx indices contain companies from the rest of the world and are managed by the International Index Company (IIC), also owned by Markit.
Is iTraxx cleared?
CDSClear is also the only European CCP that offers clearing services on all of the constituent banks of the iTraxx Senior Financials and Subordinated Financials indices….
|iTraxx Crossover 5Y||Total IM (IM as % of notional)|
|Cleared as Index Basis Package||3.36%|
What is iTraxx Asia?
The Markit iTraxx Asian indices comprise two Asia ex-Japan indices (A 50 equally-weighted investment grade and a 20 equally-weighted high yield CDS index of Asian entities), an Markit iTraxx Australia index (25 equally-weighted Australian entities) and the iTraxx Japan index (50 equally-weighted CDS of Japanese …
What is iTraxx Main?
Trading. The most widely traded of the indices is the iTraxx Europe index, also known simply as ‘The Main’, composed of the most liquid 125 CDS referencing European investment grade credits, subject to certain sector rules as determined by the IIC and also as determined by the SEC.
How does CDX HY work?
The CDX index rolls over every six months, and its 125 names enter and leave the index as appropriate. For example, if one of the names is upgraded from below investment grade to investment grade, it will move from the high-yield index to the investment-grade index when the rebalance occurs.
Is iTraxx a benchmark?
The benchmark iTraxx Europe index comprises 125 equally-weighted European names. The iTraxx Crossover index comprises the 75 most liquid sub-investment grade entities. Total Return indices are calculated and published hourly for iTraxx Europe, Asia and Crossover.
Is CDX an OTC?
Understanding the Credit Default Swap Index (CDX) A credit default swap (CDS) is an over-the-counter derivative contract that offers one counterparty protection against a credit event, such as the default or bankruptcy of an issuer. It can be thought of as insurance in the financial world.
What is the CDX HY?
Markit’s North American High Yield CDX Index, or the CDX. NA. HY Index (the “HY Index”), is composed of one hundred (100) liquid North American entities with high yield credit ratings that trade in the CDS market. Markit’s North American Investment Grade CDX Index, or the CDX.
What is CDX plywood used for?
CDX plywood is often used under shingles and roofing felt, on walls (just behind the siding and insulation), and as a sub floor just under the carpet pad or a tiled floor’s durock.
Why is CDX cheaper than OSB?
Oriented strand board (OSB) combines wood chips, glue, and resin into the shape of a sheet of plywood and bakes them together. What is this? It is often less expensive than CDX plywood because this manufacturing process doesn’t require the same costly veneers found on the front and back of CDX plywood.
What is the best sheathing to use on a roof?
What Type of Sheathing Is Best for a Roof? Oriented Strand Board, OSB, is currently the best choice for roofs. It’s durable, water-resistant, and very cost-efficient. It also has a very consistent thickness, so you don’t have to worry about weak or uneven spots.
Is OSB or CDX better for roofing?
Although some people will ultimately choose CDX, many experts argue that OSB is better overall for roofing. OSB is far less likely to expand and contract when exposed to humidity and moisture, even though it will take longer to dry. With wrapping, though, it can withstand the elements without issue.
What’s the difference between CDX and CDX plywood?
The less the number of knots, holes and repaired defects the more expensive the plywood. If so, it therefore, means CDX has the most number of knots and defects, making it a lower grade plywood. C in CDX means one side of the plywood is of grade C, and the other is of grade D.