CDS, Markit announce additions to, removals from CDX North America Investment Grade High Volatility index

By Jennifer Chiou

New York, Sept. 11 - CDS IndexCo LLC and Markit Group Ltd. announced additions to and removals from the CDX NA Investment Grade High Volatility index, which is expected to roll on Sept. 20.

Belo Corp., iStar Financial, Inc., CIT Group Inc., Gannett Co., Inc., Home Depot, Inc., Liz Claiborne, Inc., MeadWestvaco Corp., MBIA Insurance Corp., Washington Mutual, Inc., Fortune Brands, Inc. and Weyerhaeuser Co. are being added.

Alltel Corp., Arrow Electronics, Inc., Boston Scientific Corp., Computer Sciences Corp., Expedia, Inc., First Data Corp., Olin Corp., Residential Capital, LLC, Sherwin-Williams Co., Temple-Inland Inc. and Tyson Foods, Inc. are being removed.

The index is scheduled to roll every six months in order to rebalance the portfolio as necessary.

CDS IndexCo is a consortium of 16 investment banks, which are licensed as market makers in the CDX indexes. The market makers include ABN Amro, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS and Wachovia.

Markit provides independent data, portfolio valuations and OTC derivatives trade processing to the global financial markets.

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