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Benchmark rates provide independently-sourced, transparent, reliable and fully-auditable prices that accurately reflect the market at specific (fixing) times. Benchmark rates (fixings) are used widely by corporates, treasuries and equity and fixed income managers to trade FX efficiently using independently-sourced, transparent, reliable and fully-auditable prices that accurately reflect the currency market at specific ('fixing') times.
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CitiFX® Benchmark on Currenex
CitiFX® Benchmark is an internationally recognized standard for transparent and reliable pricing of global currencies. The CitiFX Benchmark covers 97 currencies on spot and 10 currencies on Forward points. Foreign Exchange rates are set sixteen times per day, across all major time zones - seven times in London, twice in New York, twice in Sydney and five times in Singapore/Tokyo. CitiFX Benchmark rates are easily accessible via the 'Benchmark' tab on the Currenex trading screen. Deals can be uploaded via a direct API link or via XML upload. There are no limits to the number of deals that can be submitted.
Citigroup's unique fixing process uses the most accurate electronic data sources for each currency to determine an independent mid-rate. Five minutes after fixing time Benchmark rates are published on Reuters, Bloomberg and the CitiFX Interactive website. In addition CitiFX® Benchmark processes are reviewed at regular intervals by a highly regarded international firm of auditors to ensure that the system remains independent and accurate.
Citibank is authorised and regulated in the UK by the Financial Services Authority
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RBS FiX Benchmark on Currenex
RBS FiX Benchmark rates are easily accessible via Currenex. Deals can be uploaded via a direct API link or via XML upload.
The RBS FiX, powered by the EBS Benchmarks, is a foreign exchange benchmark of 61 spot currency rates, 10 forward currency rates (G10) and 3 Emerging Market currency rates, fixed 22 times throughout the day in the Asia, Europe and North American time zones. The RBS FiX also offers private fixing times should this be required.
The backbone of RBSFiX is its innovative algorithm which allows RBS to use FX rates from multiple sources including EBS VWAP prices (volume & rate) and Reuter's rates. These rates are then blended into an algorithm which takes into consideration time decay and width, thus allowing RBS to calculate what RBS consider is a true market price even in times of extreme volatility.
Clients can submit or upload trades 15 minutes before the fixing event. Five minutes after the fixing event, rates are published on www.rbsmarkets.com, on Bloomberg (RBSQ), Reuters (RBSFIX01) and MoneyLine Telrate (14591-14602)
RBS FiX powered by EBS Benchmarks is audited by Deloitte and Touche to SAS 70 Type II standard.
RBS is authorised and regulated by the FSA.
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