Loan Index, Synthetic CLOs In Works
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Loan Index, Synthetic CLOs In Works

A loan-only credit-default swap index, to be called LCDX, is expected to launch by year-end, said Andrew Scott, v.p. in the office of general counsel at Merrill Lynch in New York.

A loan-only credit-default swap index, to be called LCDX, is expected to launch by year-end, said Andrew Scott, v.p. in the office of general counsel at Merrill Lynch in New York. The index will contain 75 to 100 names and be otherwise modeled on the CDX. A target date could not be determined. Also in the works are synthetic collateralized loan obligations referencing LCDS, Scott said. About USD5 billion LCDS has been traded since the completion of an ISDA template last month.

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