NEX Data Delivers IOSCO-Aligned 30-Minute Spot FX Fixings

Global pricing data provider NEX Data announced today the enhancement of its service with the launch of the ‘EBS FX Benchmarks’ which publish spot FX fixings every 30 minutes across several currencies. The new spot fixes will increase transparency and provide more frequent fixings in the most liquid currencies.

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The company confirmed that its published and calculation methodology is fully aligned with the IOSCO principles for financial benchmarks.

Designed to bring greater transparency to pricing in the FX market, the EBS FX Benchmarks are built with data sourced directly from NEX Markets’ EBS FX central limit order book. The company applies multiple validation techniques on calculated rates, which covers the full list of core EBS currencies, to offer accurate spot rates for each fix which are then published 24 hours a day, five days a week.

NEX Data will now provide the market with a broader offering of timely foreign Exchange rates that are independently produced. It further states that the addition of 30-minute fixes will help mitigate risk in its users’ FX transactions by providing additional transparency using its published methodology.

Kevin Taylor, Managing Director of NEX Data, commented: “EBS is a leading electronic venue for many of the world’s most important currency pairs. Combining EBS data with NEX Data’s technical expertise, ensures that our indices are the most robust and accurate in the market and provide clients with greater transparency.”