Mon, Feb 20, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Seven executable offshore Renminbi FIX Benchmarks added to the FTSE Cürex FX Index Series

Monday, October 08, 2012

Donald Keith
Opalesque Industry Update - FTSE, the global index provider, and Cürex Group, a developer of intellectual property and technologies that link institutional foreign exchange liquidity with global exchange traded products, announced the expansion of the FTSE Cürex FX Index Series with the addition of seven new streaming benchmark currency pairs, enabling investors to trade Offshore Renminbi (CNH) against seven major currencies at an independently calculated benchmark rate. The new indices increase the number of executable currency pair benchmarks included in the index series from 192 pairs to 199 pairs.

In addition to the FTSE Cürex FX Benchmark USD/CNH FIX published June 12, 2012, the new Offshore Renminbi FIX rates are:

  • FTSE Cürex FX Benchmark EUR/CNH FIX
  • FTSE Cürex FX Benchmark GBP/CNH FIX
  • FTSE Cürex FX Benchmark SGD/CNH FIX
  • FTSE Cürex FX Benchmark CNH/JPY FIX
  • FTSE Cürex FX Benchmark AUD/CNH FIX
  • FTSE Cürex FX Benchmark CNH/HKD FIX
  • FTSE Cürex FX Benchmark CAD/CNH FIX
The FTSE Cürex FX Index Series is distinguished by its rules-based and transparent methodology which features multiple institutional pricing sources at multiple depths of liquidity. Bid and offer FIX rates and indices are calculated on a 24/5 streaming basis with 15 minute ‘snap’ FIX rates and indices calculated 96 times per day, providing independent, time-stamped valuation metrics to better align NAV calculation with underlying market closing times.

FTSE Cürex FIX rates and FX Indices are fueling the creation of a new generation in currency risk management tools and investment products that enable an unprecedented real-time link to institutional electronic OTC FX market liquidity. FTSE Cürex FIX rates are designed to be executable at the Cürex FX ECN, a unique FX Electronic Communications Network (ECN) marketplace built with patent pending technologies that enable real-time, executable Benchmark FIX trading and high-speed index data calculation for OTC markets. Cürex FX was built to accommodate FTSE Cürex FX Benchmark FIX executions on dealable prices streaming from leading OTC FX liquidity providers with unique, third-party price audit systems.

Donald Keith, Deputy Chief Executive, FTSE Group said: “The emergence of Chinese Renminbi as Asia’s most important emerging reserve currency has provided a catalyst for the development of new tools that enhance market transparency, and enable more sophisticated currency risk management. With the launch of these additional benchmark pairs, investors can now execute Offshore Renminbi trades at an independently calculated, executable benchmark rate.”

Bill Dale, Chairman and Chief Executive of Cürex Group said: “We anticipate significant growth in Offshore Chinese Renminbi markets and support the development of financial products that promote transparent price discovery at venues where participants have equal access to sustainable liquidity. Global OTC markets are evolving toward market-tested Benchmarks that require new technologies to accommodate real-time audit of price and time liquidity, governance and fair-dealing. FTSE Cürex Offshore Renminbi FIX rates and Cürex ECN matching engine technologies are enabling the development of new Offshore Renminbi FIX rate financial products representing important innovation for current and future Offshore Renminbi trading centers and their capital markets infrastructure.”

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. With $54bn in assets, Philippines is ready for hedge funds, alternative investment products[more]

    Komfie Manalo, Opalesque Asia: With the country's outstanding fund management industry at $54bn and growing, the Philippine market and its investors are ready to invest in "more sophisticated" asset management products, like hedge funds and alternative investments, said Deanno J. Basas, presi

  2. SoftBank to buy Fortress Investment for $3.3bn[more]

    From Reuters.com: Japan's SoftBank Group Corp on Wednesday said it has agreed to buy Fortress Investment Group LLC for about $3.3 billion, looking to add investment expertise as it prepares to launch the world's largest private equity fund. The all-cash deal is SoftBank's first major investmen

  3. ...And Finally - Truth in advertising[more]

    From Newsoftheweird.com: Girl Scout Charlotte McCourt, 11, of South Orange, New Jersey, saw her sales zoom recently when she posted "brutally honest" reviews of the Scouts' cookies she was selling -- giving none of them a "10" and labeling some with dour descriptions. She was hoping to sell

  4. Europe - Brexit - Updated legal guide, Euro exchange rates set to tumble as hedge fund's super computer predicts Marine Le Pen will be next French president, Swiss fund market hits all-time high[more]

    Brexit - Updated legal guide From Herbertsmithfreehills.com: When we began analysing in depth the possibility of Britain exiting the EU (Brexit), 18 months prior to the June 2016 referendum, the business consensus was very much that Brexit was a remote prospect that either would never hap

  5. People - Gramercy appoints Bradshaw McKee as managing director of Capital Solutions, Trump taps Cerberus's Feinberg to lead intelligence review[more]

    Gramercy appoints Bradshaw McKee as managing director of Capital Solutions Gramercy Funds Management LLC, a $5.8 billion dedicated emerging markets investment manager, today announced the appointment of Bradshaw McKee to the position of Managing Director, Capital Solutions and Distressed