CDS, Markit announce Monday roll of four CDX North America indexes

By Jennifer Chiou

New York, Sept. 26 - CDS IndexCo LLC and Markit Group Ltd. announced that four of the Markit CDX North America indexes will roll into their 11th series on Monday.

Removals from the Markit CDX North America Investment Grade index include Freddie Mac, Fannie Mae, Liz Claiborne, Inc., MeadWestvaco Corp., Radian Group Inc., Sprint Nextel Corp., Brunswick Corp., Rohm and Haas Co., Rin Tinto Alcan Inc. and Washington Mutual, Inc. Additions include YUM! Brands, Inc., Ryder System, Inc., Xerox Corp., Time Warner Cable Inc., Staples, Inc., Mohawk Industries, Inc., Barrick Gold Corp., XTO Energy Inc., United Parcel Service, Inc. and ERP Operating LP.

Removals from the CDX North America Investment Grade High Volatility index include Brunswick, Fortune Brands, Inc., Kohl's Corp., Liz Claiborne, MeadWestvaco, Radian, Sprint Nextel and WaMu while additions include American Express Co., American International Group, Inc., ERP, General Electric Capital Corp., International Lease Finance Corp., Metlife, Inc., Mohawk and Motorola, Inc.

Removals from the Markit CDX North America Crossover index include American Axle & Manufacturing, Inc., Mosaic Co. and Unum Group and additions include Liz Claiborne, MeadWestvaco and Sprint Nextel.

Removals from the Markit CDX North America High Yield index include Allegheny Energy Supply Co., LLC, Mosaic, Freeport-McMoRan Copper & Gold Inc., Alltel Corp. and IKON Office Solutions, Inc. Companies to be added include Boyd Gaming Corp., Louisiana-Pacific Corp., Radian, Sprint Nextel and Tyson Foods, Inc.

The company announced the changes on Sept. 15 and Sept. 18.

The indexes are scheduled to roll every six months in order to rebalance the portfolio as necessary.

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

Markit provides independent data, portfolio valuations and over-the-counter derivatives trade processing to the financial markets.

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