HSBC launches algo carry index
HSBC has launched its first algorithmic foreign exchange index, known as the global FX carry index, in response to increasing client interest in alternative products and protection from volatile market conditions.
The HSBC Global FX Carry Index was launched yesterday and considers 32 currencies, including both G-10 and emerging markets. Currency carry strategies, which have long been popular with investors, involve investing in high-yielding currencies while borrowing in low-yielding currencies
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