Cadwalader Represents Markit in Development and Structuring of Convertible Bond Indices

Sep 22, 2009

Cadwalader, Wickersham and Taft LLP represented Markit North America Inc. (“Markit”) with the development and structuring of indices tracking the approximately $270 billion convertible bond market. On September 23, 2009, Markit will launch the first series of the CVBX and the CVEX indices. The CVBX index tracks the performance of a portfolio of convertible bonds while the CVEX Index tracks the performance of the equity securities into which the convertible bonds in the CVBX index are convertible.

These indices will provide a macro trading product for the convertible bond market that was unavailable until now and are intended to act as both a benchmark for the convertible bond market and an efficient trading vehicle for market participants.

If you have any questions regarding the foregoing please contact:
Lary Stromfeld +1 212 504-6291 lary.stromfeld@cwt.com
Steven Lofchie +1 212 504-6700 steven.lofchie@cwt.com
Doug Donahue +1 212 504-6511 douglas.donahue@cwt.com

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