The global consortium of dealers that launched the iBoxx credit derivatives indices in Europe and the U.S. has set its sights on launching an Asian credit-default swap index this year. "We've been gaining a lot of momentum--the next logical step is to expand into different timezones and Asia is at the top of the list," said Charlie Longden, global head of structured credit trading at ABN AMRO in London.
Longden said it is working on the project, but it is too early to comment about the specifics or timing of a launch. Officials at Deutsche Bank, which launched iBoxx alongside ABN, and Citigroup, also confirmed the plan is underway.
TRAC-X, a rival credit-default swap index created by JPMorgan and Morgan Stanley, launched an Asian index late last year (DW, 10/13).
