Trepp and Markit Launch CMBS Performance Indices

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Trepp, LLC, in partnership with Markit announced today the launch of a number of commercial mortgage-backed securities indices to provide independent and transparent performance coverage to CMBS market participants.

This family of indices truly leverages the strength of our two firms, combining Trepp’s comprehensive CMBS Deal Library and Markit’s global indices coverage. No other firm provides comparable coverage in the CMBS market.

Trepp, LLC, the leading provider of information, analytics, and technology to the CMBS, commercial real estate, and banking markets, in partnership with Markit, a leading global diversified provider of financial information services, announced today the launch of a number of commercial mortgage-backed securities indices to provide independent and transparent performance coverage to CMBS market participants. The Markit iBoxx Trepp CMBS index family specifically includes two benchmark indices and a liquid index.

“This family of indices truly leverages the strength of our two firms, combining Trepp’s comprehensive CMBS Deal Library and Markit’s global indices coverage,” said Tom Fink, senior vice president at Trepp. “No other firm provides comparable coverage in the CMBS market.”

The CMBS Benchmark Index reflects the performance of investment-grade CMBS securities at issuance. Capturing approximately 75-percent of the total current balance of overall CMBS conduit non-IOs, and half of all the bonds in the overall universe, the Benchmark Index delivers broad coverage for highly specified performance analytics. Sub-indices capture specific market segments across various criteria and are available based on rating, seniority, vintage, sector, WAL, and delinquency rates.

The Liquid Index reflects the liquid CMBS market and is suitable for the creation of tradable products such as ETFs. The Liquid Index uses large deal and bond size criteria for both original and ongoing notional values and is cap weighted for any given vintage or shelf.

“We’re pleased to offer our customers indices that cover the most comprehensive segment of the CMBS market,” said Tim Sargent, global head of Indices at Markit. “The new indices provide broad market coverage to support benchmarking, development of financial products, as well as research and risk management.”

The Markit iBoxx Trepp CMBS index family was unveiled at the January CREFC Conference in Miami, Florida. Index data will be available on Markit’s website and via FTP in CSV format at the end of January.

About Trepp LLC
Trepp, LLC, founded in 1979, is the leading provider of information, analytics and technology to the CMBS, commercial real estate and banking markets. Trepp provides primary and secondary market participants with the web-based tools and insight they need to increase their operational efficiencies, information transparency and investment performance. Trepp serves its clients with products and services to support trading, research, risk management, surveillance and portfolio management. Trepp is wholly-owned by DMG Information, a division of the Daily Mail and General Trust (DMGT).

About Markit Indices
Markit is a leading global diversified provider of financial information services. We offer global indices with coverage that includes equities, fixed income and economic. We leverage more than 10 years of experience in designing, administering and calculating innovative indices across OTC and exchange-listed asset classes to construct and deliver high quality indices

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Joe McBride
Trepp
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