Citi has launched two new indices to its family of market capitalization-weighted benchmarks, and one new index to its family of alternatively-weighted benchmarks.

The two market capitalization-weighted indices, the Citi Emerging Markets Broad Bond Index (EMUSDBBI) and the Citi Emerging Markets Corporate Capped Extended Broad Bond Index (EMUSDBBI Corp Capped Extended), expand Citi’s index coverage of emerging markets, and complement Citi’s existing local currency government and corporate bond indices by measuring the performance of investment grade and high yield U.S. dollar denominated debt domiciled in emerging markets. More specifically, the EMUSDBBI offers broad coverage of governments and corporations from over 60 markets, while the EMUSDBBI Corp Capped Extended focuses on corporate debt in over 45 markets and imposes a maximum par amount with respect to any single issuer.

Driving innovation outside the traditional market capitalization-weighted benchmarking space, Citi has also introduced the Citi Time-Weighted U.S. Fallen Angel Bond Index. The index is designed to measure the performance of corporate “fallen angels,” high yield bonds that were previously rated investment grade. Unlike traditional market capitalization-weighted indices, constituents’ weights are based on their time from inclusion in the index. This time-based weighting approach aims to capture the price rebound effect that fallen angels tend to experience soon after their initial downgrade to high yield. An additional capping mechanism is in place to help manage concentration risk.

“We are excited to offer innovative indices that investors can use to navigate the market and help measure performance or enhance returns,” said Arom Pathammavong, Head of Citi Fixed Income Indices. “As client interest evolves, we will continue to respond and expand our index offerings.”

“Building on our 30-year-long experience, these indices are a testament to our commitment and dedication to effective benchmarking for markets that are continuously changing,” said Richard Burns, Global Head of The Yield Book and Citi Fixed Income Indices.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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