The FTSE Curex FX Index Series Expands to a Total of Eight Executable Offshore Renminbi FIX Benchmarks
FTSE, the award winning global index provider, and Curex Group, a leading developer of intellectual property and technologies that link institutional foreign exchange liquidity with global exchange traded products, today announced the expansion of the FTSE Curex 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 Curex FX Benchmark USD/CNH FIX published June 12, 2012, the new Offshore Renminbi FIX rates are:
- FTSE Curex FX Benchmark EUR/CNH FIX
- FTSE Curex FX Benchmark GBP/CNH FIX
- FTSE Curex FX Benchmark SGD/CNH FIX
- FTSE Curex FX Benchmark CNH/JPY FIX
- FTSE Curex FX Benchmark AUD/CNH FIX
- FTSE Curex FX Benchmark CNH/HKD FIX
- FTSE Curex FX Benchmark CAD/CNH FIX
The FTSE Curex 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 Curex 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 Curex FIX rates are designed to be executable at the Curex 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. Curex FX was built to accommodate FTSE Curex 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 Curex 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 Curex Offshore Renminbi FIX rates and Curex 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.”
ABOUT FTSE GROUP
FTSE Group (FTSE) is a world-leader in the provision of global index and analytical solutions. FTSE calculates indices across a wide range of asset classes, on both a standard and custom basis. FTSE indices are used extensively by investors worldwide for investment analysis, performance measurement, asset allocation, portfolio hedging and the creation of a wide range of index derivatives, funds, Exchange Traded Funds (ETFs), and other structured products.
FTSE has built an enviable reputation for the reliability and accuracy of our indices and related data services. FTSE has a long tradition of listening and responding to the market so that it is at the forefront of developing new approaches to index design, many of which are now accepted as the market standard. FTSE prides itself in continuing to invest significant resource in researching and developing new index solutions.
The foundation for FTSE’s global, regional, country and sector indices is the FTSE global equity universe, which covers over 7,400 securities in 47 different countries and captures 98% of the world’s investable market capitalization. FTSE’s flagship global benchmark, the FTSE All-World, is used by investors worldwide to structure and benchmark their international equity portfolios.
Exchanges around the world have chosen FTSE to calculate their domestic indices. These include ATHEX, Bolsas y Mercados Espanoles, Borsa Italiana, Bursa Malaysia, Casablanca SE, Cyprus Stock Exchange, IDX, JSE, LSE, NASDAQ Dubai, NYSE Euronext, PSE, SGX, Stock Exchange of Thailand and TWSE. In addition, FTSE works with a variety of companies and associations to deliver innovative index solutions which provide the market with fresh opportunities. FTSE is an independent company owned by the London Stock Exchange Group. For more information visitwww.ftse.com.
ABOUT CUREX GROUP
The Curex Group of companies creates innovative intellectual property and technologies to enable the development of new financial products that link institutional foreign exchange liquidity to global capital markets. These products include executable FX indices and both OTC and exchange traded FX index linked financial products that offer new standards for transparent price discovery and pricing efficiency. Curex intellectual property and financial technologies are designed to promote sustainable market liquidity and new methods of global market connectivity with equal access for market participants.
Curex Group is a company with diverse capital markets experience and deep expertise in the institutional foreign exchange marketplace. Curex senior management includes technology developers, former buy-side fiduciaries and software developers. The Curex leadership team includes professionals with proven track records in building financial businesses, innovative financial products and industry leading technologies that have helped shaped the global foreign exchange marketplace. Its FX professionals are led by former FX Chief Dealers from major dealer banks and leading FX ECN liquidity managers who have created some of the leading FX ECN dealing platforms and post trade settlement systems used in the OTC FX marketplace today. Curex is a private company and its head office is located in New York. For more information visitwww.curexgroup.com.
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