FTSE Curex FX Index Expands Renminbi FIX Benchmarks

FTSE, the global index provider, and Curex Group, a leading developer of intellectual property and technologies that link institutional foreign

FTSE, the 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:

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  • – 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.”

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