Wed, Sep 17, 2014
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. Investing - Big hedge funds show interest in Alibaba, Maglan joins other hedge funds in rush to Argentinian assets[more]

    Big hedge funds show interest in Alibaba From Hereisthecity.com: …Three other major hedge fund investors who have shown interest in the IPO are Dan Loeb of Third Point, David Tepper of Appaloosa Management and Dan Benton of Andor Capital Management. All three were among the roughly 800 p

  2. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  3. Investors move capital out of Scotland ahead of referendum[more]

    Benedicte Gravrand, Opalesque Geneva: Ahead of Scotland’s independence referendum on September 18, asset managers, investors and pension savers are moving billions of pounds out of the country,

  4. Indices - Greenwich Global Hedge Fund Index up 1.57% in August (+4.22% YTD), Eurekahedge Hedge Fund Index rebounds in August gaining 1.36% (4.22%), Lyxor Hedge Fund Index was up 0.9% in August (YTD +1.7%)[more]

    Greenwich Global Hedge Fund Index up 1.57% in August (+4.22% YTD) The Greenwich Global Hedge Fund Index ended the month of August up +1.57%. Equity markets were up in August with the MSCI World Index up +2.00%. This was primarily driven by the performance of the S&P 500 which was up +4.

  5. Alpha Strategic buys stake in Premium Point Investments[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Alpha Strategic plc, a affiliate of