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J.P. Morgan – MECI – Middle East Composite Indices

Published in Fixed Income Indices

The J.P. Morgan Middle East Composite Index (MECISM) holistically captures the Middle Eastern U.S. dollar-denominated debt market covering sovereign, quasi-sovereign and corporate issuers. The MECI represents 73 percent of the Middle Eastern US dollar external debt asset class. MECI closely follows the methodology of J.P. Morgan’s Emerging Markets Bond Index Global (EMBI) and Corporate Emerging Markets Bond Index Broad (CEMBI), which are the most widely used benchmarks for investors in U.S. dollar-denominated emerging markets sovereign and corporate bonds, respectively. MECI selects issuers that are domiciled in the Middle East region and contains the following countries: Bahrain, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia and United Arab Emirates.

The MECI consists of regularly traded, liquid fixed and floating rate instruments that have a minimum face amount outstanding of $300 million and at least 5 years until maturity at issuance. Over 11 years of historical daily index levels and statistics are available for the aggregate, credit, country and sector subindices of MECI, beginning December 31, 2001.

Key Features and Coverage on RIMES

For this data source, RIMES hosts approximately 30 indices and 250 bonds. Index coverage includes the J.P. Morgan Middle East Composite Index (and GCC Index). Some of the index items available include:

  • Description, Database Domain Code, Database Source, Database Symbol, Total Return

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