CREDIT INVESTING BEYOND THE BOND MARKET:

A RESEARCH PAPER BY GREENWICH ASSOCIATES

In a research paper outlining recent innovations in the credit market, Greenwich Associates explores the growing phenomenon of investors increasingly seeking alternative credit investment tools beyond bonds and OTC credit default swaps (CDS). Tools such as ICE’s Eris credit index futures and fixed income ETFs are the catalyst to continued growth and increased accessibility to the credit market.

HIGHLIGHTS

  • Accessibility and liquidity issues have hindered the growth of the credit market
  • Cleared CDS are highly liquid; however, not all market participants can or want to trade swaps
  • ICE's Eris credit index futures and ETFs offer broader accessibility, thereby promoting growth and new trading strategies
  • Based on the most widely traded credit index swaps, Markit’s CDX.NA. IG and HY; credit index futures fully replicate swap economics and OTC conventions

Access the full research paper to learn more about the growth of alternative structures in the credit market.

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