FTSE Russell Product highlights

WMR FX Benchmarks
The trusted choice in FX rates
Asset managers, banks, index publishers and other market participants need access to reliable,
timely and independent foreign exchange (FX) benchmark rates throughout the day. For more than
20 years, WMR Benchmark rates have served as an objective, unbiased source of FX data,offering intraday and closing spot rates, forward rates and non-deliverable forwards (NDFs).
Exceptional depth and breadth of coverage
In the absence of a central exchange, FX markets can be fragmented, making it difficult to
discover meaningful market rates for all but the most widely traded currencies.
This creates significant challenges. Measuring portfolio performance, settling derivatives,
publishing indexes and structuring financial products becomes increasingly difficult without
access to reliable, standardised and widely distributed FX benchmarks.
WMR (WMR) provides accurate data for more than 150 currencies – distributed throughout theday and available to subscribers of Eikon and real-time feeds, plus other third-party providers.
WMR has a published and transparent calculation methodology, the respect of central banks andnational regulators worldwide, and a reputation for objectivity. WMR are regulated by the Financial
Conduct Authority (FCA)*, widely accepted by auditors, and aligned with International Organization ofSecurities Commissions (IOSCO) standards. Furthermore, they have been adopted by leading equityand bond and index publishers including MSCI, FTSE RUSSELL, S&P, JPM and STOXX.

Highlights–

Intraday and closing FX ratebenchmarks for more than 150
currencies–

Used by thousands of market
participants worldwide–Distributed through subscribers ofEikon, feeds and third-party vendors–

Published calculation methodology
compliant with IOSCO standards–

Calculated using transaction datafrom the largest trading platforms

WMR Benchmark rates are used for:–Settling financial contracts and FXbased derivatives–

Measuring portfolio performancebased on standard FX rates

Main benchmark services–

Spot rates: 4 p.m. UK closing, intraday and historical rates––

2 p.m. CET fix: available as a subscription service providing bid, offer and mid rates for all
currencies. Or available as a free-of-charge service with mid rates for 32 currencies against
EUR daily (with a 30-minute delay) on our website at WMR 2 pm CET fix

Valuation of investment funds, andmark-to-market calculations–

Structuring investment products–

Spot trade execution–

Calculating indices–

Reporting and auditing–

Analysis and research–

12 noon EST fix: available as a subscription service providing bid, offer and mid rates for
all currencies. Or available as a free-of-charge service with mid rates for 32 currencies
against USD (with a 30-minute delay) on our website at WMR 12 noon EST fix. CAD spot
rates against USD, GBP and EUR are also available at 12:30 ET daily (with a 30-minutedelay) on Eikon (no additional fees)–Forwards: 4 p.m. UK closing, intraday and historical rates in up to 11 tenors – ranging fromovernight to five years–

NDFs: closing, intraday and historical rates–

Historical data: up to 20 years available

Benefits
Integrity and compliance
LSEG Trust Principles guarantee integrity, independence and freedom from bias to ensure thatbenchmarks align to IOSCO principles and comply with other global regulatory standards. We
have the most regulatory experience of all FX benchmark providers.
Additionally, LSEG has established the WMR Oversight Committee, with independent
representation, to perform oversight of the current WMR Benchmark service and any new
products offered by WMR in the future.

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WMR benchmark

High reliability
Benchmarks are calculated from relevant trading data (where available) and indicative quotedata, which is validated through established quality controls and then quickly distributed acrossmultiple channels to be published on a wide range of platforms.
Complete transparency
WMR calculations are based on an established, published and well-documented methodology
designed to draw from actual trading activity where appropriate. Furthermore, all of our policies
and practices are publicly available.
Experienced provider
In addition to WMR, LSEG calculates and publishes more than 290 over-the-counter (OTC)
benchmarks across all major asset classes, with all the necessary technology in place to create
and publish reliable, stable and high-quality benchmarks.
Comprehensive coverage
WMR covers nearly every currency worldwide, from the most liquid and widely traded to thinlytraded currencies. In addition to spot rates, benchmarks are published for forward rates ofvarying duration and NDFs.
Continuing innovation–

LSEG regularly consults market participants, helping to ensure our benchmarks arecontinually enhanced and meet market needs as they change–

We are always looking for clients to take part in our FX benchmark user groups
For more information on WMRFX Benchmarks please see:lseg.com/ftserussell/wmrfxbenchmarks
For more information on Refinitiv benchmarks
go to: lseg.com/ftserussell/benchmarks
Or contact your LSEG representative forfurther details.

© 2024 London Stock Exchange Group plc and its applicable group undertakings (“LSEG”). LSEG includes (1) FTSE International Limited (“FTSE”), (2)Frank Russell Company (“Russell”), (3) FTSE Global Debt Capital Markets Inc. and FTSE Global Debt Capital Markets Limited (together, “FTSECanada”), (4) FTSE Fixed Income Europe Limited (“FTSE FI Europe”), (5) FTSE Fixed Income LLC (“FTSE FI”), (6) FTSE (Beijing) Consulting Limited(“WOFE”) (7) Refinitiv Benchmark Services (UK) Limited (“RBSL”), (8) Refinitiv Limited (“RL”) and (9) Beyond Ratings S.A.S. (“BR”). All rights reserved.
FTSE Russell® is a trading name of FTSE, Russell, FTSE Canada, FTSE FI, FTSE FI Europe, WOFE, RBSL, RL, and BR. “FTSE®”, “Russell®”, “FTSERussell®”, “FTSE4Good®”, “ICB®”, “Refinitiv”, “Beyond Ratings®”, “WMR ”, “FR ” and all other trademarks and service marks used herein (whetherregistered or unregistered) are trademarks and/or service marks owned or licensed by the applicable member of LSEG or their respective licensors andare owned, or used under licence, by FTSE, Russell, FTSE Canada, FTSE FI, FTSE FI Europe, WOFE, RBSL, RL or BR. FTSE International Limited isauthorised and regulated by the Financial Conduct Authority as a benchmark administrator. Refinitiv Benchmark Services (UK) Limited is authorised
and regulated by the Financial Conduct Authority as a benchmark administrator.
All information is provided for information purposes only. All information and data contained in this publication is obtained by LSEG, from sources
believed by it to be accurate and reliable. Because of the possibility of human and mechanical inaccuracy as well as other factors, however, suchinformation and data is provided “as is” without warranty of any kind. No member of LSEG nor their respective directors, officers, employees, partners orlicensors make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to the accuracy, timeliness, completeness,merchantability of any information or LSEG Products, or of results to be obtained from the use of LSEG products, including but not limited to indices,rates, data and analytics, or the fitness or suitability of the LSEG products for any particular purpose to which they might be put. The user of theinformation assumes the entire risk of any use it may make or permit to be made of the information.
No responsibility or liability can be accepted by any member of LSEG nor their respective directors, officers, employees, partners or licensors for (a) any
loss or damage in whole or in part caused by, resulting from, or relating to any inaccuracy (negligent or otherwise) or other circumstance involved inprocuring, collecting, compiling, interpreting, analysing, editing, transcribing, transmitting, communicating or delivering any such information or data orfrom use of this document or links to this document or (b) any direct, indirect, special, consequential or incidental damages whatsoever, even if any
member of LSEG is advised in advance of the possibility of such damages, resulting from the use of, or inability to use, such information.
No member of LSEG nor their respective directors, officers, employees, partners or licensors provide investment advice and nothing in this document
should be taken as constituting financial or investment advice. No member of LSEG nor their respective directors, officers, employees, partners orlicensors make any representation regarding the advisability of investing in any asset or whether such investment creates any legal or compliance risks
for the investor. A decision to invest in any such asset should not be made in reliance on any information herein. Indices and rates cannot be invested indirectly. Inclusion of an asset in an index or rate is not a recommendation to buy, sell or hold that asset nor confirmation that any particular investor may
lawfully buy, sell or hold the asset or an index or rate containing the asset. The general information contained in this publication should not be acted
upon without obtaining specific legal, tax, and investment advice from a licensed professional.
Past performance is no guarantee of future results. Charts and graphs are provided for illustrative purposes only. Index and/or rate returns shown may
not represent the results of the actual trading of investable assets. Certain returns shown may reflect back-tested performance. All performance
presented prior to the index or rate inception date is back-tested performance. Back-tested performance is not actual performance, but is hypothetical.
The back-test calculations are based on the same methodology that was in effect when the index or rate was officially launched. However, back-tested
data may reflect the application of the index or rate methodology with the benefit of hindsight, and the historic calculations of an index or rate may
change from month to month based on revisions to the underlying economic data used in the calculation of the index or rate.
This document may contain forward-looking assessments. These are based upon a number of assumptions concerning future conditions that ultimately
may prove to be inaccurate. Such forward-looking assessments are subject to risks and uncertainties and may be affected by various factors that may
cause actual results to differ materially. No member of LSEG nor their licensors assume any duty to and do not undertake to update forward-looking
assessments.
No part of this information may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical,photocopying, recording or otherwise, without prior written permission of the applicable member of LSEG. Use and distribution of LSEG data requires alicence from LSEG and/or its licensors.

Data definitions available frominfo@ftserussell.com

To learn more, visit www.ftserussell.com;
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