The merger of iBoxx and TRAC-X, announced on 29 April, could
delay the launch of exchange traded credit futures contracts.
TRAC-X had been expected to launch credit futures as early as
summer 2004 (see FO Week vol 8 no 49), but partners in
the merged business said that their development was now a
non-specific "medium term project".
Fergus Lynch, of shareholder firm Deutsche Bank, admitted:
"To be honest, everything's up in the air at the moment.
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