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Markit Licenses CDS Indices to Swap Execution Facilities

Markit, a leading, global financial information services company, today announced that it has licensed its Markit CDX North America IG, Markit CDX North America HY and Markit iTraxx Europe indices to leading swap execution facilities (SEFs).

Under Dodd-Frank, certain swaps previously traded over the counter are now required to be traded on SEFs. As of October 2nd, the first day of SEF trading under CFTC rules, Bloomberg, MarketAxess, Tera Exchange and Tradeweb Markets are licensed to facilitate trading in Markit’s CDS indices. Licences are being made available to all SEFs under the same commercial terms.

Armins Rusis, managing director and global head of information at Markit, said: “Derivatives markets are changing and we remain focused on helping market participants migrate from bilateral trading to an electronic, multilateral market.

“Markit’s CDX and iTraxx indices are among the most liquid in the CDS market with robust and transparent rules that make them a product of choice for market participants. We are pleased to be working with the SEF community to enable all market participants to trade our indices on the new trading venues.”

Markit offers a wide range of industry leading information, processing and infrastructure services that increase transparency, reduce risk and improve efficiency in the rapidly evolving derivatives marketplace.