Industry in discussions to change FX benchmark calculation, says ECB official

roberto-schiavi

The time frame in which foreign exchange reference rates are calculated could widen as a result of the ongoing investigations into alleged manipulation of benchmark rates and this is something senior market participants are already considering, according to a senior official at the European Central Bank (ECB).

Speaking at the end of a keynote address at the FX Week Europe conference in London this morning, Roberto Schiavi, deputy director-general for market operations at the ECB, raised question

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