More NewsAddition of AJ Tranche to Markit CMBX Indices

Addition of AJ Tranche to Markit CMBX Indices

Markit Group has announced that an AJ tranche has been added to the off-the-run Markit CMBX indices. The new tranche is designed to provide enhanced trading opportunities to institutional investors seeking exposure to an additional credit class. The company added an AJ tranche – the most subordinate of the AAA rated tranches – to the on-the-run Markit CMBX 4 index when it rolled in October last year. The new tranche has now been added to the off-the-run CMBX 1, CMBX 2 and CMBX 3 indices as well. The seven index tranches reference bonds rated AAA, AJ, AA, A, BBB, BBB- and BB respectively. Ratings are required from at least two of the following rating agencies: Fitch, Moody’s and Standard & Poor’s. A new series of CMBX is issued every six months.

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