Conversation surrounding the U.S. loan credit default swap index (LCDX) was buzzing last week as both investors and traders at The Loan Syndications and Trading Association's Loan Only Credit Default Swaps conference in New York on Wednesday, geared up for the index's May 22 launch. And despite initial skepticism about the product's success, market players were optimistic about its acceptance.

"The launch date is set, chisel it in stone, get your tattoo, it is six days away from trading," said panelist Tom Price, managing director and the global head of CDS and loans at Markit Group. And hopes were high. "Every dealer is going to trade this index and in big size," said panelist Doug Grossberg, vice president in the syndicated loan group at Credit Suisse.

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