Merrill Lynch launched a new index series designed to track the...

Merrill Lynch launched a new index series designed to track the performance of interest rate swaps in several currencies. The indexes cover a broader range of coupon-paying swap indexes than has previously been available, as well as the first zero-coupon swap indexes on offer, said Phil Galdi, managing director of the firm's global bond index and analytics group. The new indexes track key maturity points for U.S. dollar, euro and sterling par-coupon and zero-coupon swaps, with additional currencies and maturity points to be added over the coming months, according to a news release.