The SIFMA™ Municipal Swap Index
Index Criteria
This index is a weekly high grade market index comprised of 7-day tax exempt variable rate demand notes and quoted on an actual/actual basis. Actual issues are selected from the MSRB SHORT system based on several specific criteria. For more information on the criteria, you can contact SIFMA directly at 212-313-1181.
General criteria for an issue to qualify for inclusion in the index are:
This index is a weekly high grade market index comprised of 7-day tax exempt variable rate demand notes and quoted on an actual/actual basis. Actual issues are selected from the MSRB SHORT system based on several specific criteria. For more information on the criteria, you can contact SIFMA directly at 212-313-1181.
General criteria for an issue to qualify for inclusion in the index are:
- a weekly reset, effective on Wednesday
- NOT subject to the Alternative Minimum Tax
- an outstanding par amount of $10 million or more
- the highest short-term rating (VMIG1 by Moody's or A-1+ by S&P)
- pay interest on a monthly basis, calculated on an actual/actual basis
- included in the MSRB Short system