S&P Dow Jones Indices and Deutsche Bank Co-brand Offshore Renminbi Bond Index
NEW YORK, Sept. 13, 2012 /PRNewswire/ — S&P Dow Jones Indices and Deutsche Bank today announced that they have co-branded the offshore renminbi bond index, S&P-DB ORBIT Index, to offer market participants an important measure of the fast growing offshore renminbi (RMB) denominated fixed income market.
The co-branded rules-based index is based on Deutsche Bank’s existing Offshore Renminbi Bond Index Tracker (DB ORBIT), the first tradeable market benchmark index to provide exposure to the CNH (offshore RMB) bond market. It has been designed to be a highly transparent, liquid and replicable benchmark for CNH (offshore RMB) bonds, with active two-way prices, tracking CNH bonds and certificates of deposit with a minimum issuance size of CNH 1 billion and at least 12 months to maturity. It is calculated in RMB and rebalanced on a monthly basis. The index is publicly quoted on Bloomberg (ticker: DBCNH < INDEX >) and is available to investors in RMB, US dollars and Hong Kong dollars.
“The offshore RMB bond market continues to grow as the bonds are popular vehicles among offshore investors looking to gain exposure to both the yuan and debt markets in China,” says JR Rieger, Vice President of Fixed Income Indices at S&P Dow Jones Indices. “Through our joint initiative with Deutsche Bank, we are confident that the S&P-DB ORBIT Index will serve as the key benchmark for investors looking to measure China’s offshore bond markets.”
“Deutsche Bank is proud to be partnering with S&P Dow Jones Indices, the world’s largest index provider, in the distribution of the S&P-DB ORBIT Index,” adds Vishal Goenka, Head of Asia Local Currency Credit Trading for Deutsche Bank. “The offshore RMB bond market has developed considerably over the past year, with a growing range of maturities and continued diversification in issuer names. As the market continues to deepen and attracts more sophisticated investors, transparent and independent benchmarking becomes increasingly important. The S&P-DB ORBIT Index joint venture will continue to offer investors an invaluable measure for offshore RMB bond market performance.”
For complete index information, please visit www.spindices.spdji.com.
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About Deutsche Bank
Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in more than 70 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates.
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SOURCE S&P Dow Jones Indices