Thomson Reuters Named Calculating Agent for New Traded Methodology Benchmarks
(Thomson Reuters ONE) -
Transaction-based benchmarks highlight a future trend
SINGAPORE, 18 June 2013 - Thomson Reuters, the world's leading source of
intelligent information for businesses and professionals, today announced it has
been selected as the calculation agent to compile and publish new traded
methodology benchmarks for a series of foreign exchange currency pairs for the
Association of Banks in Singapore (ABS). This marks a transition from
traditional survey based benchmarks, which rely on quotes contributed by a panel
of banks, to traded methodology, and is likely to lead a trend for future
benchmarks across the globe.
"By introducing the first series of FX benchmark rates off volume weighted
average prices based on actual transactions, Singapore is demonstrating its
progressiveness and commitment to help develop the global trading community,
said Mrs Ong -Ang Ai Boon, Director, ABS. "The rates will also encourage the
healthy growth and diversification of FX instruments and derivatives locally and
globally."
The benchmarks rely on executed interbank trades captured through a selection of
Monetary Authority of Singapore's (MAS) approved brokers and are calculated
based on volume weighted average prices (VWAP). Available via Thomson Reuters
Eikon, the company's next generation desktop for financial market professionals,
the calculated benchmarks for the US dollar/Singapore dollar spot and forward
rates, US dollar/Thai baht spot rate and the implied US dollar/Indonesian rupiah
spot rate, and the Singapore dollar swap offered rate (SOR) will be calculated
daily.
"Thomson Reuters role in calculating these new benchmarks shows our commitment
and expertise in facilitating healthy liquidity flow in Singapore's foreign
exchange markets," said Anthony Northam, managing director, Head of
Marketplaces, Thomson Reuters. "Across the global markets in which Thomson
Reuters operates, the company continue to work closely with market participants
to offer representative benchmarks that serve to connect and empower the
financial community."
Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for
businesses and professionals. We combine industry expertise with innovative
technology to deliver critical information to leading decision makers in the
financial and risk, legal, tax and accounting, intellectual property and science
and media markets, powered by the world's most trusted news organisation. With
headquarters in New York and major operations in London and Eagan, Minnesota,
Thomson Reuters employs approximately 60,000 people and operates in over 100
countries. Thomson Reuters shares are listed on the Toronto and New York Stock
Exchanges. For more information, go to http://thomsonreuters.com.
The Association of Banks of Singapore
The Association of Banks in Singapore (ABS) plays an active role in promoting
and representing the interests of the banking community in Singapore. In doing
so, ABS works closely with the relevant government authorities towards the
development of a sound financial system in Singapore. Since its establishment in
1973, ABS has promoted common understanding among its members and projected a
unifying voice on banking issues. It has brought its members closer together
through various guidelines and banking practices as well as the support of
projects of mutual benefit to face the challenges of the financial and banking
community in Singapore. Today, ABS has a membership of 142 local and foreign
banks. Further information on ABS is available on the website: www.abs.org.sg.
CONTACTS
Thomson Reuters
Jennifer Walker Frisinger
Thomson Reuters
+852 28436921
jennifer.walkerfrisinger(at)thomsonreuters.com
Alan Duerden
Thomson Reuters
+44 (0)20 7542 2215
alan.duerden(at)thomsonreuters.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Thomson Reuters Corporation via Thomson Reuters ONE
[HUG#1709992]
Unternehmensinformation / Kurzprofil:
Datum: 18.06.2013 - 10:01 Uhr
Sprache: Deutsch
News-ID 270595
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Kategorie:
Business News
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