Kuala Lumpur – Refinitiv, the former financial and risk business unit of Thomson Reuters, has been re-appointed by Bank Negara Malaysia (BNM) as the calculating and distribution agent for the industry interest rate benchmark, Kuala Lumpur Interbank Offered Rate (KLIBOR).
As the official indicator of conditions in the interbank money market in Malaysia, KLIBOR offers market participants from both buy-side and sell-side a reliable reference for various investment and product uses, such as portfolio valuation and compliance reporting.
Introduced in 1987, Kuala Lumpur Interbank Offered Rate refers to the average interest rate at which term deposits are offered between selected banks in the Malaysian wholesale money market or interbank market. KLIBOR rates give market participants an indication of market rates for the trading day. In particular, KLIBOR rates are used as reference for diverse financial products including interest rate swaps, options, futures and structured products both within and outside Malaysia.
“Refinitiv’s re-appointment as calculating and distribution agent for KLIBOR signals our continued position as a trusted, global provider of financial market benchmarks, complementing our role as exclusive distributor of the TR/BPAM bond and Sukuk indices, Refinitiv provides a reliable and industry-recognized source for pricing to encourage transparency and objectivity in Malaysia and the global financial community,” said Stephan Flagel, Global Head of Benchmarks and Indices at Refinitiv.
For more than a quarter of a century, Refinitiv has been designing, calculating, governing, and publishing the financial benchmarks that lie at the heart of the global financial system. Refinitiv is the administrator of more than 30 key rates and calculation agent for over 40 critical national and regional interest rates and FX benchmarks in 12 different countries, such as Singapore, Hong Kong and Russia. For more information about Refinitiv benchmarks, visit here.
Director, Regional Communications, Asia Pacific, Refinitiv
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