Markit, a leading, global financial information services company, today announced the forthcoming launch of…
the Markit PrimeX index on April 28, 2010. The index tracks non-agency prime U.S. residential mortgage-backed securities.
The Markit PrimeX will serve as a standardized, diversified tool referencing securitized fixed-rate or hybrid adjustable rate mortgages that will allow investors to gain exposure to this asset class.
The index has four sub-indices comprised of 20 deals each, referencing fixed-rate or hybrid ARM non-agency prime loans from 2005, 2006 or 2007:
- Markit PrimeX.FRM.1 (100% fixed rate, issued between 1/1/2005 and 6/30/2006)
- Markit PrimeX.ARM.1 (100% adjustable rate, issued between 1/1/2005 and 6/30/2006)
- Markit PrimeX.FRM.2 (100% fixed rate, issued between 7/1/2006 and 12/31/2007)
- Markit PrimeX.ARM.2 (100% adjustable rate, issued between 7/1/2006 and 12/31/2007)
The Markit Primex will be tradable from inception and market participants on both the buy- and sell-side are expected to participate, including 12 licensed market makers.
Source: ETFWorld – Markit
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