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CDX/Itraxx: How the factor impact the price?
Hi guys,I currently working with CDX and Itraxx index, and I would like to understand better how the factor impact the pricing and the conversion from spread to price.If the factor change form 1 to 0.97, a new version of the index is created. If I understand correctly, the only change is when we look at cash amount (Notional *factor). All the rest is identical.Do you recommend any reading on that?