April 9, 2013
WOCU Limited, a private company based in the
City of London
, has developed the WOCU® - a universal and relatively stable world currency unit.
In a World of economic turmoil, currency devaluation rivalry and increasingly globalised business, the WOCU is a natural currency stabiliser and oil for troubled waters.
The WOCU (code: XCU) unit is an apolitical, elegantly constructed basket of World currencies that naturally adjusts to the rise and fall in the prominence of its constituents; the Top Twenty national economies by GDP and the relative strength of their currencies. The WOCU embraces the success of booming economies (such as
) and reduces exposure to those that are struggling. Weighted by IMF published figures and taking in real time exchange rates, the WOCU algorithm outputs WOCU cross rates in real time. WOCU prices are transparent, trustworthy and independent. The WOCU can be used to reduce risk and assist decision making in saving, investment, international trade, commodity pricing, project finance, international portfolios and indexes, and a host of other applications.
WOCU Limited is taking enquiries from financial institutions and corporates interested in utilising the WOCU. Interested commercial parties can go to
to get more information on the WOCU and to gain access to live and delayed WOCU prices.
Historical comparative volatility rates since 2000 can be charted to demonstrate the WOCU volatility advantage using the WOCU Volatility Tool, found under the "WOCU Applications" tab on
. For those on the move, a WOCU rates iPhone application is also available; free to download from iTunes.
Lord Flight, former Shadow Chief Secretary to the Treasury & Author of
All You Need To Know About Exchange Rates
"The introduction of the WOCU was a great day in the history of currency. The WOCU provides those engaged in international trade with a properly representative currency unit of account. In a period of potentially rising exchange rate turbulence the WOCU will be in growing demand as a more up to date currency unit of account than the SDR."
Mike Blakey, MD of WOCU Limited said
; "The WOCU has a wide application and its innovation has generated great interest from both banks and exchanges. The first institutions to make commercially available WOCU products will be the winners, as will their customers, who will greatly benefit from the natural stability of the WOCU."
About The WOCU