Dow Jones, the index firm, could be in danger of losing its role as manager of the European and Asian iTraxx credit derivatives indices following a dispute with the banks that own them.

The disagreements are believed to centre on Dow Jones's role as the ultimate arbiter and manager of the indices which are constructed using its independent methodology. After bringing Dow Jones on board to eradicate concerns about the independence of the index, the banks are now believed to want to exercise more control over its composition.