JP Morgan and Morgan Stanley's new family of Trac-X swaps - based on an innovative index of credit derivatives - have begun trading.

The new products are based on the Trac-X Europe index, which was designed by the two banks and comprises the 100 most actively traded names in the European credit default swap market.

JP Morgan and Morgan Stanley's new swaps make trading debut

Natasha de Teran

Morgan Stanley

BNP Paribas

JP Morgan

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