Vista at ICE Fixed Income Forum 2025

We recently participated in the ICE Fixed Income Forum 2025 hosted at NYSE, where leaders from across the industry explored how innovation continues to reshape fixed income markets.

Vista Index Services was represented by Michael Gramins, who joined Mark Heckert, Chief Operating Officer at ICE Fixed Income & Data Services, for the session “Mortgage Swap Market Innovation; In Plain Sight: Mortgage Credit Risk, Insight and Execution.”

The discussion focused on the creation of MDX — the market gap it addresses, why it matters now, and how it enables investors to observe and trade household credit risk with greater precision and transparency.

Key themes from the session:

✅ Addressing a Market Gap: MDX introduces a standardized benchmark for mortgage and household credit risk — long absent from fixed income markets.

✅ Data-Driven Insight: Powered by ICE’s comprehensive mortgage datasets, MDX delivers transparent, representative measures of household borrower credit behavior.

✅ Industry Application: Allows investors to source, hedge, and benchmark U.S. household credit exposure with precision.

✅ Market Infrastructure: Analytics, electronic trading, market data, and operations workflow support are available from ICE and market infrastructure firms.

✅ Market Readiness: Strong early engagement reflects demand for instruments aligned with today’s data-rich environment.

We were honored to share our perspective on how MDX can help modernize credit risk measurement and trading. Thank you to ICE and all participants helping to shape the future of household credit market infrastructure.

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Photo Credit: NYSE

Photo Credit: NYSE