The iBoxx CDX consortium, the group of banks behind the iBoxx family of credit default swaps indices have begun the roll-over process for contracts linked to their indexes. The move is likely to delay any potential merger between iBoxx and Dow Jones Trac-x, a rival family of credit derivative indices.

Many of the banks behind the two index groups had been hoping to merge the indices before the March roll process began, in response to industry pressure strong pressure for the formation of a single index. Although Trac-x and iBoxx's history has been dominated by fierce competition and heated argument, it was felt a single index would improve liquidity in the nascent index products market.