BARCELONA - Market players are coordinating to create both in-house and publicly available ABS credit default swap indices - a much needed reference point for the rapidly growing market, they said. A pricing index for CMBS could be available by September, and a more encompassing ABS CDS index may be rolled out by the second half of the year.

"The long/short structure has arrived and is here to stay for a long time," said Walter Gontarek, a managing director at RBC Capital Markets. "I think of the value of CDS and going short is really compelling."

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