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According to an official company press release, Thomson Reuters has acquired the WM/Reuters FX Benchmark rate calculation subsidiary The World Markets Company (WM) from State Street Corporation, effective immediately.
The benchmark is widely used as a price reference for portfolio valuation and performance and index calculation as well as to price related foreign exchange contracts.
The benchmark, until now, was managed by State Street’s subsidiary, The World Markets Company PLC, and which is now owned by Thomson Reuters as per the acquisition.
Commenting in the press release, Tobias Sproehnle, head of Benchmarks at Thomson Reuters, said “We are excited about the addition ... (read more)