Markit Announces Roll of iTraxx Asia Indices
Markit has announced that its iTraxx Asia indices will roll into their tenth series on 29 September 2008. There are some changes to the index construction – the Markit iTraxx Japan HiVol index will not roll into Series 10. The decision was taken based on dealer polls that the company conducted. In addition, the three-year and 10-year maturities of the Markit iTraxx Japan Main index as well as the 10-year maturity of the Markit iTraxx Australia index will be discontinued. These measures were taken to concentrate liquidity in the remaining maturities. There are also changes to index composition – based on liquidity polls, two constituents were replaced in the iTraxx Asia ex-Japan IG and one in the iTraxx Asia ex-Japan HY. Four constituents were replaced in the iTraxx Japan Main index. The Markit iTraxx Australia index remains unchanged.