TM FX: Integral and Stanford University Offer Rates for Currency Pairs

Integral Development and Stanford University have collaborated to offer FX traders near-real time foreign exchange mid-rates for major currency pairs.

The service, dubbed FX Benchmark, is offered for free via registration on the website to users. FX traders, back-office and compliance staff can use the service to see second-by-second benchmark rates and perform trade cost analysis and other regulatory or compliance duties.

Users can download data for the last five days of trading for the following seven currency pairs: AUD/USD, EUR/USD, GBP/USD, NZD/USD, USD/CAD, USD/CHF and USD/JPY.

The Integral FX Benchmark can be described as continuous fixing, which we see as a major improvement over the current approach, said Harpal Sandhu, chief executive, Integral Development Corp., in a release. Until today, no one has offered reference rates of such a caliber against which investors and traders can truly benchmark their execution.

Existing reference rates are either calculated less frequently or derived from a much smaller data set.

Sandhu added that with this added transparency, investors will finally have answers to questions such as, Where was the market when my trade was executed?

The reference data to calculate the currency pairs is sourced from executable price streams from FX Grid, the largest OTC FX trading network.