The indices use regulated transaction datasets and across-the-curve construction to capture wholesale funding conditions across short- and longer-term debt markets.

Stoxx has launched the iStoxx USD Across-the-Curve Credit Spread Index (AXI) and iStoxx USD Financial Conditions Credit Spread Index (FXI) in collaboration with New York-based SOFR Academy. The indices were originally created in 2021 and launched in July 2022 The indices are transaction-based benchmarks aiming to provide transparent measures of funding and credit market conditions, and are developed in alignment with the International Organisation of Securities Commissions (Iosco) Principles