CMA, the credit information specialist, today announced that QuoteVision, its market leading price discovery service for the OTC credit derivatives market, can now parse quotes on the Municipal Bond Credit Index (MCDX). This will enable credit market professionals to act immediately on the latest and best MCDX prices and quickly analyze their exposure to risk. Additionally, CMA is providing independent price verification for the index via its DataVision service, which will supply aggregated end of day quotes for 3, 5 and 10 year tenors.
This is the first expansion into a new asset class announced by CMA since its recent acquisition by CME Group.The MCDX enables investors to gain exposure to the U.S. municipal bonds market via an equally weighted basket of 50 investment grade municipal bond CDS (Credit Default Swaps). Over the last year the global market in credit derivatives has expanded massively to more than $62 trillion, according to Thompson-Reuters, with municipals comprising $2.6 trillion.
