Credit 3: Markit indices are the most liquid and have the best terms

In the third and final article on structured products linked to interest rates, SRP looks at underlyings and payoff structures in this segment of the market. The Markit iTraxx Europe Crossover and Markit CDX North America High Yield which were deployed in 97 and 90 structured products respectively in 2016 were the most utilised credit-based indices by investors seeking to get exposure to the credit risk of a pool of companies across Europe and the US. The European entities eligible for inclusi