NEX Data and NEX Markets launch EBS JPY Benchmark
11 May 2017
New benchmark ensures accurate and reliable price information for USD/JPY during Japanese trading hours
Tokyo, London – NEX Data, a NEX Group business which delivers independent market intelligence and price information for OTC data and NEX Markets, a NEX Group business which provides electronic trading technology and services, announces the launch of the EBS JPY Benchmark, the first fully electronic, transaction-backed reference rate for the Japanese yen (JPY). The creation of the reference rate for JPY seeks to provide high standards across the market.
Reflecting the USD/JPY rate, the new EBS JPY Benchmark is published daily at 15:00 Tokyo time. It is calculated and distributed by NEX Data using rates from executed trades during the five minute fixing window on the EBS Market central limit order book (CLOB). It has been created using methodology consistent with the IOSCO Principles for Financial Benchmarks.
USD/JPY is a core NEX Markets currency trading pair and the most traded currency pair on EBS Market, which ensures that the data used is the most detailed and accurate available for the creation of a benchmark. NEX Data’s long-standing experience in creating stable and reliable indices ensures that the new reference rate can be relied on by all market participants.
Tim Cartledge, Global Head of FX and Head of Product, NEX Markets, said: “NEX Markets is the market leader within the USD/JPY market. We are committed to ensuring the Japanese FX Market operates as effectively as possible and are honoured to contribute to the Tokyo FX Market Committee.We are pleased to launch the new EBS JPY Benchmark which accurately and reliably provides a true reference rate for the Japanese market and help customers to assess their prices.”
Kevin Taylor, Managing Director, NEX Data said: “Creating a definitive index for the purposes of offering a reference rate for USD/JPY during Japanese trading hours, is an important milestone for the currency and enhances transparency in this market. The combination of high quality data and extensive experience in building indices will ensure the benchmark is well positioned to support traders in the Japanese market.”
Fumi Suzuki, Ashton Consulting (Japan)
81 3 5425 7220
Michelle Gathercole, Argentus PR (UK)
+44 (0) 20 7397 2913
Stephanie Dilorio, Intermarket Communications (US)
+1 212 754 5181
NEX Data A NEX Group business. NEX Data operates within NEX Optimisation which helps clients simplify complexity and optimise resources. We are a market intelligence & price information service delivering independent OTC data for real-time, end-of-day and historical products. Our data covers the transaction lifecycle and allows clients to execute efficiently. There are over 400 million updates per day and constant advances in our product sophistication. We provide the intelligence behind algorithmic trading, research models, risk and compliance applications, and portfolio pricing and management.
For more information, go to www.nexdata.com
NEX Markets A NEX Group business, NEX Markets helps customers access liquidity and execute efficiently. We operate at the heart of the foreign exchange and fixed income global markets providing electronic trading technology and services. We offer access to multiple execution options, valuable liquidity from diverse sources and help execute transactions efficiently. Our financial technology, platforms and products are continuously evolving to meet the needs of a globally diverse community of professional traders who depend upon our services. For more information, go to www.nexmarkets.com
NEX Group plc offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices worldwide. NEX. Empowering markets. For more information, go to www.nex.com