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 Ticket
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."