what are wm reuters benchmark rates
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 1 the wm reuters fx benchmark rates are provided by thomson reuters which acquired the rate calculation business of the world markets company wm from state street in 2016 2 basics of wm reuters benchmark ratesthe original wm reuters service provided closing spot rates for 40 currencies daily the service has since expanded to 155 closing spot currencies covered on an hourly basis in addition wm reuters also provides closing rates for currency forwards and non deliverable forwards ndf hourly intraday for spot forward and ndf rates as well as historical data 1 while most major equity and bond index compilers use the wm reuters benchmark rates in their calculations the rates are also used for other purposes such as calculating benchmark rates for the settlement of financial derivatives some banks also provide a service to their clients by providing a guarantee to trade at the wm reuters rates 