Customer Logins

Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.

Customer Logins

My Logins

All Customer Logins
S&P Dow Jones Indices

  • S&P Global
  • S&P Dow Jones Indices
  • S&P Global Market Intelligence
  • S&P Global Mobility
  • S&P Global Commodity Insights
  • S&P Global Ratings
  • S&P Global Sustainable1
Close
Discover more about S&P Global's offerings
English
  • Español (Spanish)
  • Português (Portuguese)
  • 한국어 (Korean)
  • 简体中文 (Simplified Chinese)
  • 繁體中文 (Traditional Chinese)
  • 日本語 (Japanese)
About
  • About Us
  • Our Services
  • Media Center
  • Contact Us
Register / Login IHS Markit Login
Hi
  • My Preferences
  • Log out
S&P Dow Jones Indices
  • Indices
  • Research & Insights
  • Exchange Relationships
  • Professional Resources
  • Governance
Index Finder
  • By Category
    • Equity
    • Fixed Income
    • Commodities
    • Strategy
    • Multi-Asset
     
    • ESG
    • Thematics
    • Digital Assets
    • Indicators
    • Custom Solutions
    By Region
    • Global
    • Americas
    • Europe
    • Middle East & Africa
    • Asia Pacific
    IHS MARKIT INDICES
    • iBoxx Bond & Loan Indices
    • ESG/Sustainable Indices
    • Credit Default Swap Indices
    • Private Investment Benchmarks
    See All IHS Markit Solutions
    • Overview
    • Research
    • Commentary
    • Education
    • Performance Reports
    • SPIVA
    • Investment Themes
    • Blog
    • Events
    • Index TV
    STAY CONNECTEDGet our latest research and insights in your inbox.Sign Up
    INDEX DASHBOARDSPerformance Analytics at a GlanceAccess the Latest Dashboards
    • Overview
    • North America
    • Latin America
    • EMEA
    • Asia Pacific
    • Financial Advisors
    • Insurance
    • Institutional Investors
    • Defined Contribution
    INDEX-LINKED PRODUCTSExplore products linked to our indices.Find Products
    • Overview
    • Regulatory Information
    • Methodologies
    • Consultations
    • Corporate Engagement
    METHODOLOGY INFOGICS®: Global Industry Classification StandardExplore
    METHODOLOGY INFOS&P DJI Market ClassificationLEARN MORE
    IHS MARKITView methodologies, annexes, guides and legal documents.ACCESS DOCUMENTATION

CDX: Tradable CDS Indices

CDX indices are a family of tradable credit default swap (CDS) indices covering North America and emerging markets.

CDX covers multiple sectors, including:

  • CDX North American Investment Grade
  • CDX North American Investment Grade High Volatility
  • CDX North American High Yield
  • CDX North American High Yield High Beta
  • CDX Emerging Markets
  • CDX Emerging Markets Diversified

The indices roll semi-annually in March and September. Credit events that trigger settlement for individual components include bankruptcy and failure to pay, wherein credit events are settled via auctions.

Our selection methodology for CDX ensures that the indices represent the market’s most liquid segment. The CDX index’s high liquidity and transparency enable you to trade credit index tranches, options and first-to-default baskets.

Key benefits:

  • Trading efficiency – Trade large sizes quickly and confirm all trades electronically
  • Liquidity – Benefit from wide dealer and industry support, allowing for significant liquidity in all market conditions
  • Transparency – Depend upon standardized and well documented indices with pricing freely available daily on all indices and all index characteristics
  • Data integrity – Rely on a rigorous quality control process with contributed prices from multiple leading banks
Learn more about CDX
CONTACT SALES
Need customer support?
CONTACT CUSTOMER CARE
CDS Indices Primer - November 2021
READ FULL PAPER

News & Information

Important notifications and public information about our indices, including changes to upcoming series following index rolls, credit events on constituents and issuance of new indices.
Learn more

Documentation

Publicly available documentation relating to our indices, including methodologies, annexes and educational guides, as well as trading and legal documents for tradable indices.
Learn more

CDS Index Commitments

Summary
On 20 July 2016, the European Commission issued a decision in Case COMP/AT.39745 - CDS Information Market in which it accepted certain commitments offered by IHS Markit. The commitments are available from the European Commission's website.

The commitments adopted by the Commission include:

  • A commitment by IHS Markit to grant licenses to create and/or trade exchange traded financial products based on the iTraxx and CDX indices on FRAND terms.
  • A commitment by IHS Markit to adopt revised terms of reference governing the CDX and iTraxx index advisory committees. The revised terms of reference may be found under the Documentation pages for each index.

In connection with the CDX and iTraxx index advisory committees, Markit would like to invite firms who are interested in joining any of the advisory committees listed below to please contact either itraxxadvisory@ihsmarkit.com or cdxadvisory@ihsmarkit.com in the first instance.

  • Markit CDX IG and HY Advisory Committee
  • Markit CDX EM Advisory Committee
  • Markit MCDX Advisory Committee
  • Markit iTraxx Europe Advisory Committee
  • Markit iTraxx Asia ex-Japan Advisory Committee
  • Markit iTraxx Australia Advisory Committee
  • Markit iTraxx Japan Advisory Committee

Monitoring Trustee
IHS Markit has appointed FTI as the Monitoring Trustee to monitor its compliance with these commitments. FTI's contact details are set out below:

FTI Investigations, LLC
c/o FTI Consulting, Inc.
3 Times Square, 9th Floor
New York, NY 10036
Tel: +1 212-841-9362
monitoringtrustee@fticonsulting.com

Customers

  • Banks
  • Asset managers
  • Hedge funds
  • ETF providers

Experts

Nicholas Godec

Nicolas is an Index Product Manager covering tradable indices, including OTC and Exchange Listed Derivatives and the development of indices for Exchange Traded Funds. In addition to serving as a product expert for the various indices and their tradable equivalents, he chairs the committee for and manages the launch of new North American CDS index series, including the Markit CDX High Yield and Investment Grade, CDX Emerging Markets, CMBX and MCDX indices. Prior to joining S&P Global, he was a research analyst on the Bank of America Merrill Lynch Global Bond Indices team that is now a part of the Intercontinental Exchange.Nicolas is a CFA charterholder and holds a Certificate in Investment Performance Measurement (CIPM). In 2019, he completed his MBA from Columbia Business School's Executive MBA program, graduating with Dean's Honors.

  • Financial Services
  • Financial Indices
  • Asset-Backed Securities
  • Benchmarks Regulation
  • Capital Allocation
  • Clearing
  • Collateralized Loan Obligation (CLO)
  • Corporate Bonds
  • Credit Default Swap (CDS) Indices
  • Credit Default Swaps (CDS)
  • Credit Derivatives
  • Credit Risk
  • Data Science
  • Data Strategy
  • Debt Markets
  • Environmental, Social and Governance (ESG)
  • Exchange-Traded Funds (ETFs)
  • Exotic Derivatives
  • Financial Benchmarks
  • Financial Market Data
  • Financial Risk Analytics
  • Financial Sector Data
  • Financial Trading
  • Fixed Income Indices
  • Government Bonds
  • High-Yield Debt
  • Leveraged Loans
  • Liability-Driven Investment (LDI)
  • Liquidity
  • Market Structure
  • Municipal Bonds
  • Quantitative Research
  • Residential Mortgage Backed Securities (RMBS)
  • Securitized Products
  • Structured Finance
  • Total Return Swaps
  • Tranches
  • Volatility
View Profile

Resources

Data Commentary/CDX

Related Products

iBoxx

Explore

{"items" : [ {"name":"login","url":"","enabled":false,"desc":"Product Login for existing customers","alt":"Login","large":true,"mobdesc":"Login","mobmsg":"Product Login for existing customers"},{"name":"facts","url":"","enabled":false,"desc":"","alt":"","mobdesc":"PDF","mobmsg":""},{"name":"sales","override":"","number":"[num]","enabled":true,"desc":"Call Sales</br><strong>[num]</strong>","alt":"Call Sales</br>[num]","mobdesc":"Sales","mobmsg":"Call Sales: [num]"}, {"name":"share","enabled":true,"desc":"<strong>Share</strong>","mobdesc":"Share","options":[ {"name":"facebook","url":"https://www.facebook.com/sharer.php?u=http%3a%2f%2fwww.spglobal.com%2fspdji%2fen%2findices%2fproducts%2fmarkit-cdx.html","enabled":true},{"name":"twitter","url":"https://twitter.com/intent/tweet?url=http%3a%2f%2fwww.spglobal.com%2fspdji%2fen%2findices%2fproducts%2fmarkit-cdx.html&text=CDX+%7c+S%26P+Global","enabled":true},{"name":"linkedin","url":"https://www.linkedin.com/sharing/share-offsite/?url=http%3a%2f%2fwww.spglobal.com%2fspdji%2fen%2findices%2fproducts%2fmarkit-cdx.html","enabled":true},{"name":"email","url":"?subject=CDX | S&P Global&body=http%3a%2f%2fwww.spglobal.com%2fspdji%2fen%2findices%2fproducts%2fmarkit-cdx.html","enabled":true},{"name":"whatsapp","url":"https://api.whatsapp.com/send?text=CDX+%7c+S%26P+Global http%3a%2f%2fwww.spglobal.com%2fspdji%2fen%2findices%2fproducts%2fmarkit-cdx.html","enabled":true}]}, {"name":"rtt","enabled":true,"mobdesc":"Top"} ]}
Filter Sort
  • About S&P Dow Jones Indices
  • Our Services
  • Media Center
  • Contact Us
  • Careers
  • Corporate Responsibility
  • History
  • Investor Relations
  • Leadership
  • © 2023 S&P Dow Jones Indices
  • Legal Disclaimers
  • Terms of Use
  • Privacy Policy
  • Cookie Notice
  • Do Not Sell My Personal Information
  • Complaints