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Bullet Markit LCDX Untranched Transactions Standard Terms Supplement
Bullet Markit LCDX Untranched Transactions Standard Terms Supplement
(published April 5, 2010)
(This form, published April 5, 2010 supersedes the LCDX Untranched Transactions Standard Terms Supplement published May 22, 2007, for Markit LCDX Series 14 and higher.)
Markit LCDX is an index with 100 equally-weighted underlying North American single name loan-only credit default swaps. Copies of the Markit CDX Index Rules (of which the Markit LCDX Rules form a part) can be located on the Markit website (www.markit.com). Markit LCDX has a fixed coupon, payable quarterly, and Deliverable Obligations are defined by the Markit Syndicated Secured List (seeĀ www.markit.com). Settlement can be effected through an auction (similar to the recent unsecured CDS protocols).