New FX indices have been separately launched by the International Index Company (IIC), the company behind the successful iBoxx bond and iTraxx credit derivative indices, and JPMorgan.
IIC, established in 2001 by a consortium of 11 banks and the Deutsche Börse, says the iBoxxFX trade-weighted indices will be calculated on 10 currencies. So far, Deutsche Bank is the first to promote the new product, which will trade in the over-the-counter market. It is expected that other consortium members will follow.
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