What does WMR fixing stand for?
In the FX market, such a benchmark was introduced in 1994 by the World Markets Reuters (WMR) Company. It covers 155 spot currency benchmark rates and benchmark forward rates for 80 currencies. 4 Publication of the fixing rate takes place 15 minutes after the fix time.
What is an FX Fix?
The FX fixing rate is the precise currency rate at a very specific time of day. The currency and time are agreed upon between price maker and taker prior to a trade. Once that time hits, the trade is executed wherever the currency pair is trading.
What is London fixing?
The London spot fix is a daily price per ounce for each of the precious metals (gold, silver, platinum and palladium) determined by a brief conference call among the five members of the London Gold Pool. The London spot fix price is the price fixed at the moment when the conference call terminates.
What is WMR benchmark?
The WMR Closing Spot Rates service was introduced in 1994 to provide a standard set of currency benchmark rates so that portfolio valuations could be compared with each other and their performance measured against benchmarks without having any differences caused by exchange rates.
What is BFIX rate?
The Bloomberg FX Fixings (BFIX) family of benchmarks covers spots, forward and non-deliverable forward (NDF) rates for a comprehensive global coverage of currencies and metals. BFIX is administered and calculated by Bloomberg Index Services Limited (BISL).
What is WMR rate?
WMR Rate means the spot rate published by WM Reuters Company (“WMR”) for the currencies that JPMorgan classifies as freely convertible, and shall be the rate published by WMR at 11:00 a.m. or 2:00 p.m., New York time, or at such other time as JPMorgan may determine from time to time (or the weighted average of the …
What is execution at the WM / are 4 pm fix?
Execution at the WM/R 4 pm fix is a service offered by FX brokers (normally banks), who deliver execution at the fix provided they obtain the trade order ahead of time. In this paper, we study the market microstructure around 4 pm.
How does the WM / Reuters foreign exchange market work?
The WM/Reuters benchmark rates are determined over a one-minute fix period, from 30 seconds before to 30 seconds after the time of the fix, which is generally 4 pm in London. During this one-minute window, bid and offer rates from the order matching system and actual trades executed are captured.
Where does the WM / Reuters benchmark rate come from?
The WM/Reuters benchmark rates are provided by State Street subsidiary the WM Company and Thomson Reuters.
When was the WM / Reuters closing rate introduced?
The WM/Reuters Closing Spot Rate service was introduced in 1994 to provide standard forex rates that would enable portfolio valuations to be compared more accurately against each other and financial benchmarks, without having to account for currency differentials. 1