Thomson Reuters launches WM/Reuters 2pm CET benchmark

First Published by e-Forex News: July, 2016

Tobias Sproehnle
Tobias Sproehnle

Thomson Reuters has launched the WM/Reuters 2pm CET benchmark, a new FX benchmark service designed for corporates looking to value, hedge and settle cross-border transactions. The Thomson Reuters 2pm CET benchmark offers a reliable, transaction-oriented alternative to the European Central Bank (ECB) 2:15pm CET reference rates.  “The changes to the ECB reference rates have left a gap for corporates that need a trusted reference rate to settle cross-border transactions on a daily basis,” said Tobias Sproehnle, global head of benchmarks at Thomson Reuters. “The WM/Reuters 2pm CET benchmark provides them with a highly-monitored and robust solution for this task that comes with the comfort that it fully aligns to IOSCO principles for benchmark calculation and that it is calculated on primary market data from leading market platforms.”