CDS IndexCo and Markit Announce Roll of the TABX Indices.NEW YORK -- CDS IndexCo LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("CDS IndexCo"), a consortium of 16 investment banks that combined to create tradable synthetic indices, and Markit Group Limited ("Markit"), the leading provider of independent data, portfolio valuations and OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). derivatives trade processing, announced that its TABX indices will roll tomorrow, August 2, 2007. The TABX indices are standardized tranches of ABX.HE ABX.HE Asset Backed Securities Index - Home Equity , a synthetic index of U.S. home equity Asset-Backed Securities (ABS). TABX references the underlying names of the ABX.HE BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. and BBB- sub-indices. Both sets of tranches will consist of the same 40 reference entities which constitute the current ABX.HE 07-2 and the previous ABX.HE 07-1 index vintages; the 40 ABX.HE BBB reference obligations underlie the six BBB tranche indices while the ABX.HE BBB- reference obligations underlie the six BBB- tranche indices. Additional details and considerations concerning the roll of the TABX indices, as well as a complete list of reference obligations, coupons and index RED codes can be viewed at: www.markit.com. TABX will next roll in February 2008. Markit is the administration, calculation, and marketing agent for the TABX indices. This broad remit includes capturing daily price fixings, publishing monthly fixed and floating payments; handling rules, operations, and marketing; negotiating dealer and data licenses; and communicating information to the wider market. The licensed dealers of TABX are: ABN AMRO; Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. ; Barclays Capital; Bear Stearns; BNP Paribas; Citigroup; Credit Suisse; Deutsche Bank; Goldman Sachs; JPMorgan; Lehman Brothers; Merrill Lynch; Morgan Stanley; RBS RBS Royal Bank of Scotland RBS Role Based Security RBS Rollback Segment RBS Rare Book School (University of Virginia) RBS Rural Business Cooperative Service RBS Ribosome Binding Site (genetics) Greenwich Capital; UBS; and Wachovia. About CDS IndexCo CDS IndexCo is a consortium of 16 investment banks which are licensed as market makers in the ABX, CMBX CMBX Commercial Mortgage Backed Securities Index and CDX indices. The market makers include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) , JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia. About Markit Markit Group Limited ("Markit") is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial markets. The company receives daily data contributions from over 85 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance. |
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