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Curex Group and Nasdaq, Inc. (Nasdaq: NDAQ) today announced a new partnership featuring transparent, executable OTC Spot FX Baskets developed by Curex. Nasdaq and Curex have agreed to develop and co-brand these new types of indices and will work jointly to promote them for the creation of new hybrid investment products globally.The Nasdaq Curex Hybrid Indices will blend executable currency basket indices with traditional equity and bond indices to create a new type of financial index designed to achieve the core investor objectives of managing currency exposure risk, increasing yield and creating new types of investment profiles.
Dave Gedeon, Managing Director of Nasdaq, Inc. commented, “Curex has introduced complete transparency to OTC Spot FX. This fundamental development enables a whole new generation of executable indices and financial products which benefit a broad group of investors. Because currency is a core component of all financial assets, the introduction of executable currency baskets means the currency composition of an investment product can be strategically allocated not only to hedge foreign currency exposure but also to enhance diversification and add new sources of yield to better achieve specific investor objectives.”
David Cohen, Managing Director for financial products at Curex Group said, “We are excited about this new partnership with Nasdaq which has rapidly differentiated itself as an innovator in the global index arena. We strongly believe that these new hybrid indices - a combination of Nasdaq’s proven product development and introduction capabilities and Curex’s unique, executable currency basket indices - will underscore the role currency plays as a key attribute of all investments and help investors better manage their portfolios.”
Plans for several first-to-market Nasdaq Curex Hybrid indices include an x-USD version of the NASDAQ ¬-100, an x-Euro version of the NASDAQ Eurozone Index and a yield enhanced version of the NASDAQ Dividend Achievers Series. These new indices are already under development.
About Curex Group
The Curex Group is a technology solutions provider whose business objective is to provide fairness and transparency to users of foreign exchange, whether they are institutions, corporations or investors. We primarily focus on four business opportunities: foreign exchange execution, foreign exchange indices, data sales and financial product design and support. Our mission is to work in partnership with our clients to create more efficient foreign exchange investment structures, to lower transaction costs and to add unparalleled clarity to all foreign exchange activity. Headquartered in New York, Curex is independently owned and is not affiliated with any other financial services company.
Release ID: 67559