Currency traders trying to hang on to gains

The Barclay’s Currency Trader Index (CTI) is on track to avoid an unprecedented third-straight losing year — but not by much.

The CTI fell 0.06 percent in September and is up just 0.76 percent for the year. Started in 1987, the CTI, which is comprised of 114 managed money programs (currency futures and spot forex), is coming off back-to back down years.

This year has been a struggle for all of Barclay’s seven indices, as only three are in the black for 2007. The benchmark CTA Index is down 0.55 percent; the Discretionary Traders Index leads the way with a gain of 2.11 percent.

The Barclay BTOP FX Index, which tracks the largest investable currency trading programs and accounts for at least half of the investable assets of all programs tracked by Barclay, gained 0.79 percent in September to increase its yearly gains to 1.61 percent.

The index closed September at 1,024.13, its highest point of the month, but still off 2.8 percent from the all-time high of 1,053.60 set in late July.