WM/Reuters FX benchmark rates are spot and forward foreign exchange rates that are used as standard rates for portfolio valuation and performance measurement. 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.

With benchmark fixings that are published on a regular and transparent basis, this allows market participants such as institutional investors and
corporate treasurers to demonstrate that they have achieved the most competitive rate possible at the time of execution.

In the absence of a central exchange, FX markets can be fragmented, making it difficult to discover meaningful market rates for all but the most widely traded currencies.

This creates significant challenges. Measuring portfolio performance, settling derivatives, publishing indexes, and structuring financial products becomes increasingly difficult without access to reliable, standardized, and widely distributed FX benchmarks.

WM/Reuters FX benchmarks provide accurate data for more than 150 currencies — distributed throughout the day and available to subscribers of Thomson Reuters Eikon and real-time feeds, plus other third-party providers.

With a published and transparent calculation methodology, the respect of central banks and national regulators worldwide and a reputation for objectivity, WM/Reuters FX benchmarks are regulated by the FCA, widely accepted by auditors, aligned with IOSCO standards, and have been adopted by leading equity and bond and index publishers including MSCI, FTSE, S&P, JPM, and STOXX.