Markit (Nasdaq:MRKT), a leading global provider of financial information services, today announced that HSBC has transferred the ALBI, ADBI and AHBI indices to the Markit’s iBoxx family of indices. Financial terms were not disclosed.
The Markit iBoxx Asian Local Bond Index (iBoxx ALBI™), Markit iBoxx Asian USD Bond Index (iBoxx ADBI™), and Markit iBoxx Asian USD High Yield Bond Index (iBoxx AHBI™) bear the leading brand in Asia and have been built by Markit to succeed the HSBC indices.
Adam Kansler, managing director and co-head of Information at Markit, said: “We are very excited to expand our presence in APAC and internationally through the reach of these leading Asian brands and have worked closely with HSBC to ensure a smooth transition. These indices underscore our commitment to providing essential benchmarks for passive and active portfolio management.”
The indices are administered in accordance with the IOSCO principles. They use Markit’s multi-source bond pricing process, have replicable and transparent rules, and give users access to the iBoxx analytics, pricing and reference data. Markit has a strong track record creating benchmark and tradable indices, and the iBoxx ALBI, iBoxx ADBI and iBoxx AHBI are natural extensions of our iBoxx index family. They will be supported by local teams of specialists in APAC, the Americas and Europe.
Markit is a leading independent provider of fixed income and macroeconomic indices, calculating more than 14,000 indices globally. Our indices include the iBoxx bond indices, the iTraxx™ and CDX™ credit derivative indices, as well as the Purchasing Managers’ Index™ (PMI™) series, which are used as indicators of economic activity in over 30 countries. Nearly $90 billion in ETF assets are linked to iBoxx indices.