Markit launches European ABS index

Markit announced the launch of the Markit iBoxx European ABS index, a cash bond index designed to track the performance of the European floating-rate asset backed securities (ABS) market.

The index is the company's first index for European ABS, as well as its first cash index for the asset class. Markit already has a synthetic index for ABS in the US, called ABX.HE.

The new index provides investors with a benchmark to assess returns available on European ABS assets denominated in euros, sterling and US dollars.