Thomson Reuters has unveiled the Thomson Reuters Benchmark Services Limited (TRBSL), a subsidiary aimed at managing and overseeing financial benchmarks that were previously the target of LIBOR manipulation.
Thomson Reuters has unveiled the Thomson Reuters Benchmark Services Limited (TRBSL), a subsidiary aimed at managing and overseeing financial benchmarks that were previously the target of LIBOR manipulation, according to a Thomson Reuters statement.
TRBSL Oversees Benchmarks Ahead of New Regulation Standards
Following the fallout of the massive London Interbank Offered Rate (LIBOR) scandal, benchmark regulators collectively agreed upon the date of July 1, 2014, in which all benchmarks will be overseen and administered in an attempt to curb previously illicit manipulation. The organizational body responsible for this compliance is the International Organization of Securities Commissions (IOSCO), a global entity that consolidates regulators across borders.
Indeed, the TRBSL has already earned Financial Conduct Authority (FCA) authorization as a mandated overseer for LIBOR calculations, a notable absence in the process previously. It was this lack of accountability and regulation that facilitated such fixing, prompting authorities to make such a move. Regarding the TRBSL’s functionality, the subsidiary will effectively operate and govern Thomson Reuters’ benchmark suite, now numbered at over 160.
LIBOR Fallout Fosters New Compliance
According to John Cooley, Global Head of Indices and Reference Rates at Thomson Reuters, “Thomson Reuters supports the financial industry in multiple ways to improve transparency in both liquid and iliquid markets. Over the past 18 months, we have been working closely with global regulators, authorities and agencies to ensure that as an industry we collectively enhance and re-establish trust in key benchmarks and continue to support the vital role they play in financial markets. Our global benchmark portfolio means that we can do this at scale, applying learning and best practice across multiple benchmarks and jurisdictions.”
Thomson Reuters has always played a pivotal role in the calculation of LIBOR rates. Rates are calculated via the world’s ten major currencies and are published daily at 11:30 GMT by Thomson Reuters – it is estimated that nearly $350 trillion in derivatives, Forex and an assortment of other financial products are tied to Libor rates. More specifically, it acts as a centralized index that measures the inherent costs of funds and rates to banks operating with exposure to London and its respective assets.
Over the past twelve months, Thomson Reuters has opted to publish new benchmarks (11) with full control and administrative oversight, necessitated by the fallout and consequent bevy of fines launched over the LIBOR fixing. Presently, Thomson Reuters governs, calculates and reports OTC financial benchmarks on behalf of a composite of 52 banks and organizations, including HIBOR, SIBOR and ISDAFIX, in addition to traditional financial instruments such as bonds and equities.
Thomson Reuters has unveiled the Thomson Reuters Benchmark Services Limited (TRBSL), a subsidiary aimed at managing and overseeing financial benchmarks that were previously the target of LIBOR manipulation, according to a Thomson Reuters statement.
TRBSL Oversees Benchmarks Ahead of New Regulation Standards
Following the fallout of the massive London Interbank Offered Rate (LIBOR) scandal, benchmark regulators collectively agreed upon the date of July 1, 2014, in which all benchmarks will be overseen and administered in an attempt to curb previously illicit manipulation. The organizational body responsible for this compliance is the International Organization of Securities Commissions (IOSCO), a global entity that consolidates regulators across borders.
Indeed, the TRBSL has already earned Financial Conduct Authority (FCA) authorization as a mandated overseer for LIBOR calculations, a notable absence in the process previously. It was this lack of accountability and regulation that facilitated such fixing, prompting authorities to make such a move. Regarding the TRBSL’s functionality, the subsidiary will effectively operate and govern Thomson Reuters’ benchmark suite, now numbered at over 160.
LIBOR Fallout Fosters New Compliance
According to John Cooley, Global Head of Indices and Reference Rates at Thomson Reuters, “Thomson Reuters supports the financial industry in multiple ways to improve transparency in both liquid and iliquid markets. Over the past 18 months, we have been working closely with global regulators, authorities and agencies to ensure that as an industry we collectively enhance and re-establish trust in key benchmarks and continue to support the vital role they play in financial markets. Our global benchmark portfolio means that we can do this at scale, applying learning and best practice across multiple benchmarks and jurisdictions.”
Thomson Reuters has always played a pivotal role in the calculation of LIBOR rates. Rates are calculated via the world’s ten major currencies and are published daily at 11:30 GMT by Thomson Reuters – it is estimated that nearly $350 trillion in derivatives, Forex and an assortment of other financial products are tied to Libor rates. More specifically, it acts as a centralized index that measures the inherent costs of funds and rates to banks operating with exposure to London and its respective assets.
Over the past twelve months, Thomson Reuters has opted to publish new benchmarks (11) with full control and administrative oversight, necessitated by the fallout and consequent bevy of fines launched over the LIBOR fixing. Presently, Thomson Reuters governs, calculates and reports OTC financial benchmarks on behalf of a composite of 52 banks and organizations, including HIBOR, SIBOR and ISDAFIX, in addition to traditional financial instruments such as bonds and equities.
TradeStation and Coincheck Drive Monex's 850% Profit Surge
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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