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Dealers to launch ABX prime index
Wednesday, December 9, 2009
Dealers have decided to create a credit default swap index tied to US prime-mortgage securities, it has been reported today. The index, known as ABX.PRIME and similar to the existing ABX index on subprime home equity, will launch in the first quarter of 2010, according to Markit. It will allow participants to hedge against prime mortgage losses of bet on their credit quality.
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