Barclays Capital to remove Taiwan dollar-denominated debt from two indexes, make other changes

By Angela McDaniels

Tacoma, Wash., Oct. 3 - Barclays Capital Inc. has several index rule changes that will come into effect on Jan. 1, according to a company news release.

The full list of changes is as follows:

• Israeli shekel-denominated nominal government debt will become eligible for the Global Aggregate index. This market is currently tracked in the Barclays Capital Local Currency Emerging Markets Bond index and will be eligible for both benchmarks;

• Thailand government inflation-linked bonds will be added to the Emerging Markets Government Inflation-Linked Bond index. Thailand is the second Asian market eligible for this benchmark following South Korea;

• Taiwan dollar-denominated debt will be removed from the Global Aggregate and Asia-Pacific Aggregate indexes. A stand-alone Taiwan dollar index will continue to be published;

• Australia government inflation-linked bonds will be added to the Global Inflation-Linked Bond (Series-L) indexes, synchronizing the country inclusion lists of this index with the World Government Inflation-Linked Bond index; and

• Bonds issued by U.K. water utilities issued as whole business securitizations will be reclassified from securitized > ABS > whole business to corporate > utility > other utility.

Current Barclays Capital index rules that require sovereign issuers to be classified as investment grade using the middle rating issued by Moody's Investor Service, Standard & Poor's and Fitch Rating will remain in effect for Treasury/government bond indexes.

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