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FX Indices
Deutsche Bank offers a wide range of tradeable FX Indices and commits to provide round the clock liquidity in them via a broad range of associated derivatives. The aim is to create a simple platform that gives all client types access to single currency, currency area, or currency strategy views at the click of a button. We can quanto index payouts into most currencies generating a single cash flow at each coupon date or at maturity. Please see the relevant index information.
Why Trade DB FX Indices?
- Simplicity - ability to trade a basket of up to 10 currencies at the click of a button around the clock.
- Operational efficiency - credit, funding, booking and risk management of a portfolio of spot trades is done in one transaction, with 1, single currency cash flow at expiry equal to the P/L.
- Act as a currency benchmark - our FX Indices can act as a benchmark to hedge a portfolio of assets or to express a view about how a country's macroeconomic outlook will affect it's currency.
- Hedging - if you have exposure to multiple currencies hedging them simultaneously via options rather than individually will be significantly cheaper as you take advantage of the correlation.
- Speculating - a position in a basket of currencies will always provide diversification benefits in terms of being less volatile.
Deutsche Bank Guide to Currency Indices
The Deutsche Bank Guide to Currency Indices, the definitive guide to currency investing through FX indices.
Highlights include:
- Comprehensive coverage of the Deutsche Bank suite of FX index products, from trade-weighted indices, to Harvest, dbCR and the FXSelect Platform
- New research-driven pieces on the TWI's, CVIX and EM Asia policy baskets
- Appendix section including all index construction details and historic returns
The DBCR is an investable index that captures the long term systematic returns available by investing in the world's currency markets.
The Deutsche Bank Currency Harvest Indices track the performance of a portfolio that systematically invests in a diversified basket of high yielding currencies, funded by going short a diversified basket of low yielding currencies.
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Industry comment
(Extract from FX Blueprint, January 2012)
2012 will be the Year of the Dragon in the Chinese calendar. Regional perspectives on the dragon may well characterise the challenges for 2012. In medieval Europe, unknown territory on early world maps was marked Hic Sunt Dracones (“Here be Dragons”). For the West, dragons represent uncertainty and danger, while for the East it represents power and auspiciousness. Whether both perspectives are realized for each region is perhaps the question for 2012. Our base case is that the Euro-area will enter uncharted territory in terms of policy responses, but the Euro-area will hold together. Meanwhile, we expect China (and the US) to avoid a hard landing. So we do tend to believe the biases inherent in each region’s perspective of the dragon, but we don’t subscribe to the more extreme outcomes being touted.
Click here to see our themes and trades for the year.