Reuters calculates spot USD/HKD fixing rate

Reuters has been appointed the official calculator and distributor of the benchmark spot US dollar/Hong Kong dollar fixing rate, which will be launched on April 6 this year.

The fixing – expected to provide a reference rate for the pricing of Hong Kong dollar-linked currency products – is calculated by averaging the middle quotes after excluding the highest three quotes and lowest three quotes from the contributed rates provided by 20 financial institutes. The spot USD/HKD fixing will serve as a benchmark for the market exchange rates of US dollar against the Hong Kong dollar at 11:00am.

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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