Integral Readies FX Benchmark Rate Fixings

Currencies in the balance
Officials say the offering will provide more accurate FX benchmark rates

Foreign exchange trading software vendor Integral Development Corp is preparing to launch a set of benchmark rates for major currency pairs, updated at one-second intervals and made available at the end of every trading day, to provide more reliable data than current FX fixings to support execution quality evaluation and transaction cost analysis.

Dubbed Integral FX Benchmark, the rates will go live on Jan. 15, and will cover US dollars against Australian dollars, euros, pounds sterling, New Zealand dollars, Canadian dollars, Swiss francs and Japanese yen, and were developed based on joint research with Stanford University and feedback from buy-side FX market participants.

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