Markit launched their cash bond index, Markit iBoxx European ABS index, which monitors the performance of the European floating-rate ABS market.

The index will increase the magnitude Markit’s financial information service to ABS. It will offer investors a benchmark figure that can be used to calculate the relative performance of their portfolios as well as to evaluate ABS assets denominated in euros, British pounds, or U.S. dollars.

“The Markit iBoxx European ABS index’s strictly defined rules and pricing model make it ideal for performance attribution and structuring of financial products,” said Stephan Flagel, managing director and head of indices at Markit.

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