CDW and Dow Jones Indexes finalise composition of indexes

CDW and Dow Jones Indexes have finalised the composition for several indexes including the new Dow Jones CDX US Crossover Index.


The Dow Jones CDX US Crossover Index will consist of 35 equally weighted US entities (listed below) or a 2.857 per cent exposure to any name. The ratings required for inclusion are either (i) a crossover (5B) rating (i.e., a rating in the BBB/Baa rating category by one of S&P and Moody's and in the BB/Ba rating category by the other), (ii) a 4B rating (i.e., a rating in the BB/Ba rating category by both S&P and Moody's) or (iii) a rating in the BB/Ba rating category by one of S&P and Moody's and no rating by the other.


Ticker                            Name                                                Tier

ABY                               Abitibi Consol Inc                               Senior<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


AHC                               Amerada Hess Corp                           Seniot


ARM                               ArvinMeritor Inc                                  Senior


AVT                                Avnet Inc                                           Senior


BOMB                            Bombardier Inc                                  Senior


BOW                              Bowater Inc                                        Senior


CA                                 Comuter Associates Intl Inc                Senior


CTZN                              Ctzns CommsCo                                Seniot


DCN                               Dana Corp                                         Senior


DELBB-America              Delhaize Amer Inc                              Senior


DHI                                DR Horizon Inc                                   Senior


DISH-ESDBS                  EchoStar DBS Corp                           Senior


DTC                               Domtar Inc                                         Senior


EDS                               Electr DataSys Corp                          Senior


EK                                 Eastman Kodak                                 Senior


FLEX                              Flextronics Intl Ltd                              Sub


F-MotorCred                   Ford Motor Cr Co                                Senior


GLW                               Corning Inc                                        Senior


GMAC                            Gen Mtrs Accep Corp                          Senior


GP                                 GA Pac Corp                                      Senior


HCA                               HCA Inc                                             Senior


HOT                               Starwood Hotels & Resorts                  Senior


JCP                                JC Penney Co Inc                              Senior


KBH                               KB Home                                          Senior


KMG                              Kerr Mcgee Corp                                Senior


L                                    <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Liberty MediaCorp                              Senior


LEA                                Lear Corp                                          Senior


MGG                              MGM MIRAGE                                   Senior


NCX                               Nova Chems Corp                               Senior


QUS-Corp                       Qwest Corp                                        Senior


RCL                                Royal Caribbean Cruises                    Senior


SHC-Acceptance             Sears Roebuck Accep Corp                Senior


SUNW                            Sun Microsystems Inc                        Senior


TXU                                TXU Corp                                           Senior


UNM                               UnumProvident Corp                           Senior



Sixteen firms have agreed to act as market makers for the new Dow Jones CDX.NA.XO Index and include:  ABN AMRO; Bank of America; Barclays Capital; Bear Stearns; BNP Paribas; Citigroup; Credit Suisse First Boston; Deutsche Bank; Goldman Sachs; HSBC; JPMorgan; Lehman Brothers; Merrill Lynch; Morgan Stanley; UBS; and Wachovia.


CDS IndexCo LLC and Dow Jones Indexes have also announced the final portfolio constructions for the Dow Jones CDX NA Investment Grade (DJ CDX.NA.IG) and the Dow Jones CDX NA Investment Grade High Volatility Index (DJ CDX.NA.IG.HVOL). The portfolio selection process was conducted by Markit, the index administrator, with input from the member banks of the CDS IndexCo consortium and approved by Dow Jones Indexes.


The member banks that are part of the CDS IndexCo consortium include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.



INDEX                                 ADDED                                                            REMOVED


 


DJ CDX NA IG                    The Gap Inc.                                                  Eastman Kodak Co


                                            IAC InterActive Corp.                                     Ford Motor Credit Co


                                            Knight Ridder Inc.                                         General Motors Acceptance Corp


                                            Limited Brands Inc.                                        Kerr McGee Corp


                                            Marsh & McLennan Cos. Inc.                       MBNA Corp


                                            Radio Shack Corp.                                        Liberty Media Corp


                                            Sara Lee Corp.                                               Lear Corp


                                            Toll Bros. Inc.                                                 Maytag Corp


                                            Sabre Holdings Corp                                    Sears Roebuck Acceptance Corp


 


(DJ CDX.NA.                      Albertsons Inc                                                Comcast Cable Comms LLC


IG.HVOL                             ConAgra Foods Inc                                       Eastman Kodak Co


                                            The Gap Inc                                                   Ford Motor Credit Co


                                            IAC InterActive Corp                                      FirstEnergy Corp


                                            International Paper Co.                                 Sprint Corp


                                            Jones Apparel Group Inc                             General Motors Acceptance Corp


                                            Knight Ridder Inc                                          Kerr McGee Corp


                                            Limited Brands Inc                                         Lear Corp


                                            Marsh & McLennan Cos Inc                         Liberty Media Corp


                                            Radio Shack Corp.                                        Southwest Airlines Co


                                            SUPERVALU INC.                                           McKesson Corp


                                            Toll Bros. Inc                                                  Maytag Corp


                                            Sabre Holdings Corp                                    News America Inc


                                            Whirlpool Corp                                              Sears Roebuck Acceptance Corp


                                            XL Cap. Ltd                                                     Tyson Foods Inc



 

The index is scheduled to roll every six months in order rebalance the portfolio as necessary. 


Background notes: CDS IndexCo is a consortium of 16 investment banks which are licensed to be market makers in the Dow Jones CDX indexes.  The market makers include:  ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia.


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