Data vendor Markit says the roll-out of its ABX.HE index has been postponed for three months. The Markit ABX.HE is a synthetic index of US home equity asset-backed securities.
The new series, the Markit ABX.HE 08-1, was scheduled to launch on 19 January 2008.
Markit says the decision to postpone its launch was taken following "extensive consultation with the dealer community."
Recent turmoil in the ABS markets has led to a lack of RMBS issues in the second half of 2007, restricting the securities eligible for inclusion in the forthcoming Markit ABX.HE roll. Markit says its ABX.HE 07-2 index remains the on-the-run series until further notice.
Under current index rules, only five deals qualified for inclusion in the Markit ABX.HE 08-1. Markit says it considered amending the index rules to include deals which failed to qualify initially but decided against this approach "at this time."
Markit says its remains fully committed to the index and will update the market "as and when appropriate."