Reuters, together with investment performance consultancy The WM Company, has tripled the frequency of its Intraday Spot currency rates broadcast.
Since its launch in 1993, the WM/Reuters Spot rates service claims to have become a global standard for portfolio valuations, performance measurement and research.
The extension, from six to seventeen updates a day, offers an hourly service from 6am to 10pm UK time covering Asia close through the global day to US close. The service is designed to meet the growing demands from banks for the most up to date and global information as they increasingly use these rates for valuations in local time and across different time zones.
The Spot service provides bid, offer and mid rates for 103 currencies and the Closing Forwards service covers 9 time periods for 37 currencies. History of these rates covering several years is also available.
The service is available through Reuters 3000 Xtra and via Reuters 2000 and 3000 data services.
Christian Mathies, director of treasury content at Reuters comments: "As market participants increasingly need consistent currency valuation rates for risk and portfolio management it is vital that they receive up to date and reliable information."