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LCDX Indices
 

Markit MCDX Indices

Welcome to the Markit MCDX Homepage

Markit, in conjunction with major broker-dealers in the credit derivative and municipal bond markets, has launched a new credit index referencing municipal CDS, Markit MCDX.

Find below key characteristics of the index, and links to documentation and the investor call, which took place on April 29, 2008, and for which a replay is accessible.

Coupons for the MCDX.NA.11 have been determined

30 September 2008 - The below table outlines the coupons for the MCDX.NA.11 index scheduled to roll on 3 October 2008 with an effective date of 6 October 2008.

INDEX 3 Year 5 Year 10 Year
Markit MCDX.NA.11 85 90 95

Markit MCDX.NA End-of-Day Spreads (Nov 19, 2008)

Index Price Spread
MCDX.NA 11 V1 3Y 98.07 157.25
MCDX.NA 11 V1 5Y 97.04 165.00
MCDX.NA 11 V1 10Y 95.56 169.25
MCDX.NA 10 V1 3Y 97.26 154.00
MCDX.NA 10 V1 5Y 95.43 159.50
MCDX.NA 10 V1 10Y 92.70 163.75

Key Points

Reference Entities 50 - Excludes Tobacco and Healthcare issues
Reference Obligations Revenue, General Fund Obligation, Full Faith & Credit - At least $250 million outstanding uninsured debt
Deliverable Obligations Of equal or higher ranking in capital structure
Ratings BBB- (S&P), Baa3 (Moody’s), or BBB- (Fitch) or above and not on negative watch
Credit Events Failure to pay, Restructuring
Coupon Payment Date March 20, June 20, September 20, December 20
Roll Dates April 3, October 3
Assumed Recovery Rate for Upfront Calculation 80%
Tenor 3, 5, 10 years
Settlement Physical - Auctions are expected to be run in case of credit events and cash settlement will be considered for future series
Name MCDX.NA.11
RED ID 5A79DPAB3

Markit MCDX Fixed Coupons

INDEX 3 Year 5 Year 10 Year
Markit MCDX.NA.10 35 35 40
Markit MCDX.NA.11 85 90 95
Markit MCDX Documentation The link will direct you to Markit MCDX documents. Included are the trading documents (Short-Form Confirmation and Standard Terms Supplement), and marketing documents (MCDX Overview, MCDX Investor Call Presentation). Access MCDX Investor Call Audio Replay Please click on the link above to register to recieve the audio replay. If you registered for the actual call, you will automatically be sent the replay.

Click here to register your interest in this product