BFIX/Fixings Flashcards
(15 cards)
What are FX Fixings?
Benchmark exchange rates published at regular intervals on or throughout a day
Name 2 examples of fixing providers?
1 Central Banks
2 FX Banks
3 Fixing Providers (Reuters, BBG)
BFIX rates are calculated using what type of price?
Equally Weighted Average Price
Give 3 reasons for FX Fixings
1 Used to settle derivative contracts (NDFs & Options)
2 Used by Central banks to set official exchange rates
3 FXFC Methodology (London 4pm fixing used for EoP rate)
4 Used for portfolio valuation
5 Hedging & Risk management
What is the time window used for BFIX Spot currencies?
300 seconds (5mins) prior to the fixing time
Name 3 benefits of BFIX?
1 Speed (Rates published within 15s for USD based and 1 for others)
2 Flexibility (rates published every 30 mins)
3 Historical access (view data back to 2007)
How are bid and ask values for BFIX rounded?
Bid values –> rounded down
Ask values –> rounded up
Which days do BFIX not publish rates
1 Christmas (exc. 2027)
2 Good Friday (2024-2030)
3 New Year’s Day (exc. 2028)
Where can you find WMR/Reuters pricing source codes
WMCO –> 13) Pricing sources –> XDF codes
Where can I find days BFIX doesn’t publish?
Help BFIX –> Methodology –> Page 17
Can I pull Reuters fixings into excel?
Yes, but you’d need to request enablement from Reuters directly (on WMCO)
From what time will BFIX rates show up on the next day on HP?
5:30pm onwards
Which fixing is the following ticker for? –> EURUSD L193 Curncy
London 19:30
Date on BFIX is 26/03/2025. On HP, what date will the 19:30 fixing show up on?
27/03/2025
Where can I find central bank fixings?
FIXI –> FX tab –> Change the country
