Barclays Launches Emerging Markets Index

Barclays Capital announced the launch of a new Emerging Markets Tradable Local Currency Bond (EMLOCAL) Index.

The EMLOCAL Index is a rules-based tradable subset of the flagship Barclays Capital Emerging Markets Local Currency Government benchmark index, and is composed of debt from up to 16 EM countries. The EMLOCAL Index is rebalanced semi-annually and includes representative and liquid benchmark-eligible bonds from four different regions (Latin America, Eastern Europe, Middle East & Africa, and Asia), with caps and floors by both country and region to ensure diversification across markets.   

According to the announcement, the EMLOCAL Index is the latest addition to the Barclays Capital Emerging Markets (EM) index platform, which includes benchmark bond indexes (hard currency, local currency and inflation-linked indexes), tradable bond indexes, FX indices, equity indexes, and interest rate swaps indexes.