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...