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Thomson Reuters buys WM/Reuters forex benchmarks rate calculation biz from State Street

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Thomson Reuters buys WM/Reuters forex benchmarks rate calculation biz from State Street

ThomsonReuters Corp. said April 4 that it has acquired WM/Reuters foreignexchange benchmark rate calculation business of The World Markets Co. plc fromState Street Corp.

The deal will be effective immediately.

The deal means Thomson Reuters will own, administer andcalculate the benchmark used by financial professionals for portfoliovaluation, performance measurement, index calculation and as a price referencein financial contracts. The WM/Reuters foreign exchange benchmark falls underthe regulation of the U.K. Financial Conduct Authority.

Thomson Reuters will continue to employ the same WM team tooperate the service.