Thomson Reuters Unveils FX Benchmark Ahead of Change to ECB Reference Rate
Posted: Tue May 31, 2016 10:00 am
A new FX service has been unveiled by Thomson Reuters, after the company announced today its WM/Reuters 2pm CET benchmark, aimed for corporates that need to value, hedge and/or settle cross-border transactions, according to a company statement on the newly released foreign exchange product.
Described as an alternative to the European Central Bank (ECB) 2:15pm CET reference rate, the new solution from Thomson Reuters takes a 15-minute head start on the ECB rate, yet the company noted that the need for the product comes amid plans for the ECB to change its release time to later in the day.
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The changes to ... (read more)