Markit announced today that the Markit CDX North America Investment Grade, Markit CDX North America High Volatility and Markit CDX North America Crossover indices will roll into their 11th series on Sept. 29.Additionally, the Markit CDX Emerging Markets index will roll into its 10th series and the Markit CDX Emerging Markets Diversified index will roll into its eighth series on the same date.
The Markit MCDX index will roll into its 11th series on Oct. 3 and the Markit CDX North America High Yield index will roll into its 11th series on Oct. 6.
These rolls were postponed from their initial launch dates because of the exceptionally high trading and clearing activity, following the Lehman Brothers bankruptcy.
Changes to the index compositions include the replacement of 10 constituents in the Markit CDX North America Investment Grade index. New names to the series now include YUM! Brands, Ryder System, Xerox Corp., Time Warner Cable, Staples, Mohawk Industries, Barrick Gold Corp., XTO Energy, United Parcel Service and ERP Operating Limited Partnership. Exiting the index includes Federal Home Loan Mortgage Corp., Federal National Mortgage Association, Liz Claiborne, Radian Group and Washington Mutual, among others.
Eight constituents were added to the Markit CDX North America High Volatility index, three constituents in the Markit CDX North America Crossover index, and five constituents were replaced in the Markit CDX North America High Yield index. There were no changes made to the composition of the Markit CDX Emerging Markets, Markit CDX Emerging Markets Diversified indices and the Markit MCDX index.