Markit announced today that in response to the U.S. conservatorship of Fannie Mae and Freddie Mac, which is classified as a bankruptcy credit event under the International Swaps and Derivatives Association credit derivative definitions, the company has rolled out new versions of all Markit CDX indices without Fannie Mae or Freddie Mac as a constituent. The company also said that new Markit RED codes were issued yesterday for the new versions of the Markit CDX indices, as well as for the Fannie Mae and Freddie Mac post-credit event entities, in order to reduce legal and operational risk in the credit derivative market.
Access to a full range of industry content, analysis and expert commentary.
No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.
Have an account? Sign In