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.
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.
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