NEW YORK,
Jan. 17, 2017 /PRNewswire/
-- ING Financial Markets LLC ("ING Financial Markets") was
awarded the Reuters Awards for FX Forecasting of Latin American
(LatAm) Currencies for 2016, with a score of 2.70.
In 2016, ING Financial Markets was also awarded first place for
the Bloomberg "FX Forecast Accuracy Ranking Latin America Q3 2016"
and the Focus Economic "Inflation Forecaster Mexico Overall
Forecaster Mexico."
"We're honored to be recognized by Reuters as one of the top FX
Forecasters of LatAm Currencies," said Michael Baudo, Head of ING Financial Markets -
Americas. "Given the uncertainty of global monetary policy, ING
Americas prides itself on providing best-in-class FX forecasting of
this important emerging market."
StarMine, the research provider for Reuters, aggregated all the
individual accuracy scores for each forecaster over all major
releases in a given country. The resulting aggregated accuracy
scores were then ranked to arrive at the final rankings for each
country.
Methodology
After every economic indicator release, StarMine calculates an
accuracy score for every contributor to the Reuters Poll for that
release. These accuracy scores take into account the error of the
given forecaster relative to the error of all the other forecasters
for that release. These accuracy scores are also an input into the
StarMine SmartEstimate® for economic indicators and FX rates. The
StarMine SmartEstimate is a weighted average of all contributor
data where the weights given to each prediction are a function of
the contributor's historical accuracy on the given indicator or FX
rate.
StarMine applies a Bayesian approach for contributors who have
contributed to fewer than nine polls over the last year, wherein
their accuracy values are tilted towards a neutral score until the
contributor has contributed more consistently to the given poll.
Thus, in order for a contributor to receive a high StarMine
accuracy score, a contributor must be more accurate than other
forecasters and be a consistent contributor over the 12 month
period.
Press enquiries:
Elaine Clark
+1646-424-7021
Elaine.clark@ing.com
STARMINE PROFILE
StarMine is a global leader in research analytics and is
recognized as the Gold Standard in analyst performance measurement.
StarMine's research, analytics and quantitative models are also
extensively used by the top asset management firms around the
world. The StarMine SmartEstimate for sell-side earnings estimates
has been in commercial use for 15 years and continues to reliably
predict earnings surprises when the SmartEstimate differs
significantly from the consensus estimate. Similarly, the
SmartEstimate for economics and FX rates has been shown to predict
the direction of economic surprises and FX rates when
theSmartEstimate differs significantly from the consensus.
ING Financial Markets LLC
ING Financial Markets LLC, an S&P A+ rated broker-dealer, is
registered with the U.S. Securities and Exchange Commission and is
a member of the NYSE, FINRA and SIPC. ING Financial Markets LLC
provides securities sales and trading services across a wide range
of financial markets products including Securities Finance, U.S.
Rates and Credits, FX, Money Markets, Fixed Income sales and
trading, and Equity Derivatives to ING's corporate and
institutional clients. ING Financial Markets LLC is an indirect
U.S. subsidiary of ING Bank NV, part of ING Group (NYSE: ING), a
global financial institution of Dutch origin. The purpose of ING
Bank is empowering people to stay a step ahead in life and in
business.
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SOURCE ING Financial Markets LLC