Boston, MA 08/29/2014 (wallstreetpr) – The U.S. based company, Thomson Reuters Corporation (USA) (NYSE:TRI), has been named as the official calculating agent for Taipei Foreign Exchange Market Development Foundation (TFEMDF)’s offshore renminbi benchmark CNT TAIBOR (Taipei Interbank Offered Rate), according to Bloomberg.
Rates submitted by 15 regional and global banks:
The prime industry rate, TAIBOR, is an official standard for reference to the market participants while they price interest rate contracts, pricing renminbi loans as well as derivatives products. The calculation depends on the day-to-day rates contributed by 15 regional as well as global banks, which are released on every trading day in Taiwan at 11:15 am, beginning September 1.
Thomson Reuters’ next-gen desktop:
The reference interest rates, as well as rates published by individual banks, will immediately reflect on the Thomson Reuters Eikon, which is Thomson Reuters’ next-gen desktop for the financial markets.
Chairman of TFEMDF says:
TFEMDF’s Chairman, Chou A-Ting said that the company gives more importance to the development of CNT TAIBOR because the benchmark is of great importance in the financial infrastructure of the offshore renminbi market. Moreover, it will contribute significantly to developing Taiwan as offshore renminbi market, said the Chairman.
The company’s effort:
Thomson Reuters is playing a vital role to establish the renminbi to the core of the world’s currency system, while Thomson Reuters Corporation (USA) (NYSE:TRI) efforts to develop it internationally through offshore renminbi reference rates to ‘foreign exchange and money markets’.
Goldman Sachs conference:
Bloomberg reports that the Chief Executive Officer of the provider of information for global business, Thomson Reuters, Jim Smith will present in the “Goldman Sachs 23rd Annual Communacopia Conference.” The conference will take place on Thursday, September 11, 2014 at 1:15 pm. After the announcement of financial result on July, this is the next big event for Thomson Reuters Corporation (USA) (NYSE:TRI).
