JPMorgan Launches Asian Currency Index on Bloomberg

SINGAPORE, LONDON and NEW YORK, October 5 /PRNewswire/ --

- The First Tradable U.S. Dollar Index of Emerging Asian Currencies

JPMorgan announced today the launch of the Bloomberg-JPMorgan Asia Currency Index (ADXY), the first U.S. dollar tradable index of emerging Asian currencies.

The ADXY creates a benchmark for monitoring Asia's currency markets on an aggregate basis. The ADXY is a spot index of emerging Asia's most actively traded currency pairs valued against the U.S. dollar.

The index's composition is based primarily on trade weights, with an added filter for liquidity that keeps the index updated with macro and market trends. The index is available real-time via Bloomberg's ADXY <GO> function.

Until its launch, no industry standard for gauging the aggregate performance of emerging Asian currencies or a straight-forward means of hedging existed. The index provides a solution to help express a view on, or facilitate in, hedging a broad exposure to emerging Asia. JPMorgan will continue to build the index by offering clients a full range of linked financial products, including non-deliverable forwards (NDFs) and options.

David Puth, global head of currency and commodities at JPMorgan, said: "The Bloomberg-JPMorgan Asia Currency Index is an important step forward for the Asian currency markets. For the first time we are providing the ability to monitor currency moves and leverage currency exposure. JPMorgan's full spectrum of derivative products not only shows our commitment to enhancing liquidity in these markets but also brings new investment and risk management tools to our clients."

"Bloomberg is continually adding innovative functionality to the Bloomberg terminal, to give Bloomberg users the leading edge and to help develop new markets," said Alex Bruce of Bloomberg. "The Bloomberg-JPMorgan Asia Currency Index is an important benchmark for traders and investors with an eye on Asia."

JPMorgan

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of US$1.1 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. has its corporate headquarters in New York and its U.S. retail financial services and commercial banking headquarters in Chicago. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com.

Bloomberg

Bloomberg LP is the leading global provider of news, data and analysis. The BLOOMBERG terminal and Bloomberg's news services provide reporting, analytics, real-time and historical pricing, indicative data, multimedia events and electronic communications 24 hours a day to corporations, news organizations, financial professionals and individuals around the world. Bloomberg's media services include BLOOMBERG NEWS(R), the global news service that includes more than 1,800 journalists in 102 bureaus worldwide; BLOOMBERG TELEVISION(R), the 24-hour business and financial network produced and distributed worldwide on 10 separate channels in seven languages; and BLOOMBERG RADIO(SM), which provides up-to-the-minute news on XM, Sirius and WorldSpace satellite radio around the world and on WBBR 1130AM in New York. In addition, Bloomberg Magazine Group and Bloomberg Press publish magazines and books for investment professionals. BLOOMBERG TELEVISION and BLOOMBERG RADIO are syndicated to more than 800 affiliates worldwide. For more information please visit www.bloomberg.com.

Press contact: Sarah Oppler, [phone], [e-mail]

J P Morgan