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WM/Reuters Spot & Forward Rates Methodology Guide

Posted by BOOGIE145 on Wednesday, June 12, 2013 Under: 848FINACE
Scope of the rates and
methodology of their calculation
SECTION 1 — INTRODUCTION
1.1 History
The WM/Reuters Closing Spot Rates service was introduced
in 1994 to provide a standard set of currency 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. These rates
were rapidly adopted by index compilers, the
Financial Times
and other users and became the de facto standard for closing
spot rates on a global basis.
In 1997, the WM/Reuters Closing Forward Rates service was
launched to complement the Closing Spot Rates service.
In 2001, the WM/Reuters Intraday Spot Rates service was
launched to extend the spot rates product and meet customers’
growing requirements. In 2004, the currency coverage was
increased by 49, taking the total number of spot rate currencies
provided to 158. This service has recently been expanded to
provide hourly spot rates from Monday 07:00 in Sydney until
Friday at 22:00 in the UK.
In March 2004, the coverage of the Closing Forward rates was
extended to cover 73 currencies and additional time periods
for some currencies. In August 2004, Intraday Forwards were
launched at 08:00, 10:00, 12:00, and 14:00 UK time. Further
enhancements were made in June 2005 when the 21:00 UK
time was introduced, and in January 2007, this was increased
to an hourly service from 07:00–21:00 hours UK time. In June
2009, additional times of 17:00 New York time, 10:00 Sydney
time and 14:00 New Zealand time were introduced.

In : 848FINACE 


Tags: wm/reuters spot & forward rates methodology guide 

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