[2] 16 major financial institutions, JPMorgan, Goldman Sachs, Deutsche Bank, Barclays Capital, Bank of America, BNP Paribas, Citigroup, Credit Suisse, Lehman Brothers, Merrill Lynch, RBS Greenwich, UBS and Wachovia,[1] owned the private company called the CDS Index Company (CDS IndexCo), that developed the ABX index on 17 January 2006.
[3] Markit Group Limited marketed the ABX index and by 2007 had acquired (CDS IndexCo).
On 17 The ABX index was a credit default swap of asset-backed mortgages of 30 of the most liquid mortgage-backed bonds.
The LCDX provided protection for banks and hedge fund clients from the overly leveraged loan market.
(Lenzner 2007)[1] Stephen Waugh, a vice president at Deutsche Bank, announced the launch of Markit's first tranched "long-awaited" and "highly anticipated" loan credit default swap index (LCDX).