ING is launching proprietary global emerging markets indices, giving its clients a new route to get exposure to emerging markets currencies in a simpler and transparent way.
Bloomberg, the global index provider, is responsible for providing the independent calculation and administration of these indices. In addition to leveraging Bloomberg’s expertise in strategy index development, calculation and administration, ING selected Bloomberg’s BFIX data source to use in the index, as it is an independent benchmark for currency rates that is regularly updated and widely used by the FX market.
Bloomberg ING Global Emerging Markets FX Indices enables clients to focus on how emerging market currencies have performed against the US dollar. The indices track the performance of a basket of 12 equally-weighted emerging market currencies1 against the US dollar. There will also be both a long-only and long-short versions available to trade. The long-short version enhances returns by applying a volatility based risk filter.
|INDEX NAME||BLOOMBERG TICKER|
|Bloomberg ING Global EM FX Index (USD ER)||INGFXUS1|
|Bloomberg ING Global EM FX Index (USD TR)||INGFXUS2|
|Bloomberg ING Global EM FX Index Long/Short (USD ER)||INGDFXU1|
|Bloomberg ING Global EM FX Index Long/ Short (USD TR)||INGDFXU2|
Guy Thomas, Head of FX Rates and Credit Trading, ING said, “We are pleased to offer the Bloomberg ING Global Emerging Markets FX Indices to our clients as it allows them to take exposure to the emerging markets currency asset class in a cost effective, efficient and transparent way.”
Ji Zhuang, Head of Custom Strategies business at Bloomberg said, “We are delighted to support ING UK in launching these emerging markets FX indices. As regulations evolve and investors increasingly demand more benchmark transparency, we are helping firms across the globe turn their investment strategies into indices, and offering outsourcing of in-house index calculation and administration to our managed platform.”
Note to editors
The Bloomberg BFIX family of benchmarks covers spot, forward and non-deliverable forward rates for a comprehensive global coverage of currencies. The benchmark is used for portfolio benchmarking, derivatives valuation, index construction, and trade execution. BFIX is administered and calculated by Bloomberg and was confirmed to be aligned with the International Organization of Securities Commissions’ (IOSCO) Principles for Financial Benchmarks. It is available without additional charge on the Bloomberg Terminal.
|1 Index Constituent Currencies|
|BRL – Brazilian Real|
|HUF – Hungarian Forint|
|INR – Indian Rupee|
|IDR – Indonesian Rupiah|
|KRW – Korean Won|
|PHP – Philippine Peso|
|PLN – Polish Zloty|
|RUB – Russian Ruble|
|ZAR – South African Rand|
|THB – Thai Baht|
|TRY – Turkish Lira|
|MXN – Mexican Peso|
ING UK Deepa Bose T: +44 207 767 6364 E: email@example.com
ING Asia Eileen Lau T: +65 65397725 E: Eileen.firstname.lastname@example.org
Bloomberg Asia Irene Gu T: +86 10 6649 7535 E: email@example.com
Bloomberg U.S. Alyssa Gilmore T: +44 20 3525 0776 E: firstname.lastname@example.org
Bloomberg EMEA T: +44 20 7392 0673 E: email@example.com
Bloomberg LATAM T: +212 617 7652 E: firstname.lastname@example.org
ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank’s 51,000 employees offer retail and wholesale banking services to customers in over 40 countries.
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