HSBC and DIFX launch Sukuk and conventional bond indices
HSBC and the Dubai International Financial Exchange (DIFX) have launched a family of indices which track price movements of conventional Middle Eastern bonds and international Sukuk (Islamic bonds). The indices are grouped into three major categories: International Sukuk, Middle Eastern Conventional Bonds and Middle Eastern Aggregate, which include over 100 issues from the region, with data going back to 31st December 2004.
In addition to these main indices, a variety of sub-indices have been launched, allowing investors to track various individual sub-sectors within the main indices, while also providing greater transparency into the booming Middle Eastern credit market.
The indices provide daily updated price and liquidity information about the market in Middle Eastern conventional bonds and international Sukuk. This will enable regional and international fixed income investors to make better-informed trading decisions based on a new benchmark. They will also facilitate the development of new index-linked investment products. — www.theasianbanker.com (October 31 2007)–