EBS, Thomson Reuters upgrade combined fix

Abstract

Thomson Reuters and EBS have blended the sources of their combined 30-minute FX fixing through a proprietary algorithm, in a bid to increase transparency for FX market participants and meet increased demand for more timely and precise reference data based on real-time trades. The fixing services were initially created in 2006, after the Bank of England ceased publication of FX rates. Daily benchmarking was initially provided twice a day by both platforms across six currencies -- sterling, euro, yen, Swiss franc, Australian dollar and Canadian dollar.