WOCU seen by WDX as Solution to IMF Call for New World Currency
WDX Organisation Ltd. (“WDX”), the owner and distributor of the real time WOCUâ„¢ world currency unit quotation, notes the recent call by Dominique Strauss-Kahn, Managing Director of the International Monetary Fund, for a new world currency to protect against future global financial instability.
WDX notes that the WOCU global currency quotation is readily available today to address this very problem. It urges interested parties to familiarise themselves with and to utilise the WOCU.
The WOCU is a proprietary (patents applied for) “Currency Stabilising” financial product — an elegantly weighted currency basket encompassing the exchange rates of the local currencies of the World’s twenty largest economies. The WOCU exchange rate reflects market rates and naturally adapts to and balances out economic growth over time across disparate national economies.
The WOCU is a standardised, readily exchangeable, bank-independent, transparent unit; an apolitical free market solution that can be compared to a “Super – SDR.”
The WOCU is fully developed and reliably available as daily and hourly fixed reference prices, as real time, millisecond updated prices, delayed prices and historical data, currently distributed by Interactive Data Corporation (IDC) via its PrimeTerminal, eSignal Pro and PlusFeed data distribution network. Interest and forward rate calculations are also available, as are multiple mobile applications.
The WOCU’s low volatility (compared to the World’s traditional reserve currency, the USD) against local currencies offers huge commercial advantages as a unit of account for the denomination of world trade, compared to the status quo of cross border trade denominated in local currency pairs, or in USD.
The WOCU’s natural relative stability can be efficiently applied to; reserve ratio references (similar to the SDR), commodity pricing and global trade, multinational corporate treasury operations, currency neutralised global savings accounts, global index calculations, and global fund management currency overlay.
WDX believes that the WOCU offers the IMF and the World an “Off the Shelf” solution to the global imbalances of large and volatile capital flows, exchange rate pressures and growing excess reserves that Mr. Strauss-Kahn rightly describes as “sowing the seeds of the next crisis.”
Information on the WOCU is available at www.wocu.com; where WDX can be contacted.