FXCM Inc. (NYSE: FXCM), an online provider of forex trading worldwide, has collaborated with Dow Jones Indexes, a leading full-service index provider, to develop the Dow Jones FXCM Dollar Index. FXCM will launch a tradable basket on the index.
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The US dollar is the world’s foremost currency and the standard against which other currencies are measured. The Dow Jones FXCM Dollar Index Basket will offer traders the opportunity to track the US dollar with maximum liquidity. This Dow Jones FXCM Dollar Index compares the US dollar to four of the world’s most liquid currencies: the euro, British pound, Aussie dollar, and Japanese yen. The Dow Jones FXCM Dollar Index Basket is intended to be more relevant, tradable, and easier to use than existing dollar indexes.
Commenting on the release Drew Niv, CEO of FXCM, said, “The Dow Jones FXCM Dollar Index was designed with the trader in mind. Its goal is to avoid outdated currency pair selection and esoteric methodology, using the most relevant currencies and straightforward design. Because of this, the index-linked basket can deliver maximum utility to the trader. FXCM is thrilled to bring an index product like this to our traders on FXCM platforms and has partnered with what we believe to be the best index provider to do so.”
Traders can begin trading the Dow Jones FXCM Dollar Index Basket by opening a demo account with FXCM.com.