S&P Dow Jones, Deutsche Bank announce S&P-DB Orbit index co-branding

By Tali David

Minneapolis, Sept. 13 - S&P Dow Jones Indices LLC and Deutsche Bank announced that they have co-branded an offshore renminbi bond index, the S&P-DB Orbit index, according to a press release.

The index will offer market participants an important measure of the fast growing offshore renminbi-denominated fixed-income market. It is publicly quoted on Bloomberg and is available to investors in renminbi, U.S. dollars and Hong Kong dollars.

The co-branded rules-based index is based on Deutsche Bank's existing Offshore Renminbi Bond Index Tracker, the first tradable market benchmark index to provide exposure to the offshore renminbi bond market, the release said.

"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," S&P Dow Jones vice president of fixed income indices JR Rieger said in the release.

"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," Rieger added in the release.

S&P Dow Jones is part of New York-based McGraw-Hill Cos, a resource for index-based concepts, data and research. Deutsche Bank is based in Frankfurt.

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