Fri, Oct 24, 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   |   

Banner

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. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  2. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  3. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  4. Goldman in talks to acquire IndexIQ[more]

    From Bloomberg.com: Can Goldman Sachs put ETF investors on a liquid diet? Goldman is in talks to acquire IndexIQ, Reuters has reported. Index IQ is a small exchange-traded-fund firm known mostly for products that replicate hedge fund strategies, called "liquid alternative" ETFs. While IndexIQ has 11

  5. Other Voices: CALPERS dilemma should be a warning to hedge funds wanting institutional investors[more]

    From Ian Hamilton, founder of IDS Group. A quick comment on the CALPERS’ disinvestment from the hedge fund market and the jitters it is causing. Pension Funds should not be sheep and follow CALPERS’ decision as the issues that CALPERS has with hedge fund investments are in many ways unique t