Search press announcements

ING launches global emerging market FX indices with Bloomberg

August 3, 2017

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


Press Enquiries

ING UK Deepa Bose T: +44 207 767 6364 E: deepa.bose@uk.ing.com
ING Asia
Eileen Lau T: +65 65397725 E: Eileen.lau@asia.ing.com
Bloomberg Asia Irene Gu T: +86 10 6649 7535 E: igu3@bloomberg.net
Bloomberg U.S. Alyssa Gilmore T: +44 20 3525 0776 E: agilmore7@bloomberg.net
Bloomberg EMEA T: +44 20 7392 0673 E: cthomas106@bloomberg.net
Bloomberg LATAM T: +212 617 7652 E: pamsnook@bloomberg.net

ING PROFILE

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.

ING Group shares are listed on the exchanges of Amsterdam (INGA AS, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

Sustainability forms an integral part of ING’s strategy, which is evidenced by the number one position among 395 banks ranked by Sustainalytics. ING Group shares are being included in the FTSE4Good index and in the Dow Jones Sustainability Index (Europe and World) where ING is among the leaders in the Banks industry group.

About Bloomberg

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg’s enterprise solutions build on the company’s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit www.bloomberg.com or request a demo.