Thomson Reuters to offer 2pm WM/R benchmark
For corporates requiring a tradeable reference rate to settle cross-border transactions
Thomson Reuters is launching a new WM/Reuters 2pm central European time (CET) benchmark, as an alternative to the European Central Bank's (ECB) 2:15 CET reference rates, whose publication has been moved to later in the trading day.
"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," says Tobias Sproehnle, global head of benchmarks at Thomson Reuters.
The 2pm WM/R benchmark is calculated
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