An index of European loan credit default swaps: iTraxx LevX

The Markit iTraxx LevX indices are based on terms published by the International Swaps and Derivatives Association and intended to enable market participants to hedge or assume systemic risks more efficiently. Designed for the European leveraged loan market often characterised by insufficient information, these indices use a continuity procedure in which determinations relating to refinancings and cancellations are made by a designated lawfirmbased on information provided by dealers, then such determinations are shared with the market generally.