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Thomson Reuters Named Official Calculating Agent for HIBOR

Thomson Reuters has been appointed as the official calculating agent for publishing the Treasury Markets Association’s (TMA) offshore renminbi Hong Kong Interbank Offered Rate benchmark (CNH HIBOR benchmark), following its appointment as the official calculating agent for this industry interest rate benchmark, as reported in Squawkbox last week (19th June 2013).

The firm will compile and publish the TMA’s benchmark based on calculations from the rate contributions by 16 regional and global banks. The rate is calculated daily and is published at 11:15am every trading day in Hong Kong, it will be available on Eikon, Thomson Reuters’s desktop for financial markets, as well as on the TMA’s public website.

Peter Pang, chairman of the executive board of the TMA and deputy chief executive of the Hong Kong Monetary Authority, says, “The CNH HIBOR benchmark will be a significant piece of financial infrastructure for the offshore RMB market. Its launch will support the growth of the RMB market by providing a benchmark for loan facilities. The benchmark will also facilitate the development of a variety of RMB interest rate products, increasing the ability with which market participants can manage the interest rate risk of their RMB businesses.”

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