Markit, New York, has announced plans to launch a tradable synthetic index of U.S. subprime asset-backed securities referencing 20 qualifying residential mortgage deals issued in the first half of 2005. "The addition of a new index, following a majority vote of licensed dealers, will provide institutional investors with a greater ability to gain or hedge exposure to an earlier vintage of U.S. residential mortgage-backed securities," the company said. Markit said it would make the new index, ABX.HE 05-2, available on Oct. 2.
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