CDX
Business & Finance abbreviation · Bond & Fixed-Income
| Stands for | Credit default swap index |
|---|---|
| Categories | Business & Finance |
CDX stands for Credit default swap index, a bond & Fixed-Income abbreviation.
Family of tradable credit derivative indices, administered by S&P Dow Jones Indices, that track baskets of North American and emerging-market credit default swaps. CDX.NA.IG covers 125 investment-grade companies and CDX.NA.HY covers 100 high-yield names.
Example: Hedge funds bought protection on CDX high yield as a quick hedge against a credit sell-off.
Usage notes
The European equivalents are the iTraxx indices. New index series launch every six months, in March and September, updating their constituents. Traders use CDX to hedge or express views on broad credit risk without trading individual bonds.
Related abbreviations
More bond & Fixed-Income abbreviations
- AAA – Highest credit rating (triple-A)
- ABS – Asset-backed security
- AT1 – Additional Tier 1 capital
- BTP – Buono del Tesoro Poliennale (Italian multi-year Treasury bond)
- CDO – Collateralized debt obligation
- CDS – Credit default swap
- CLO – Collateralized loan obligation
- CMBS – Commercial mortgage-backed security
- CMO – Collateralized mortgage obligation
- CoCo – Contingent convertible bond
- CP – Commercial paper
- DV01 – Dollar value of a basis point