A set of foreign exchange benchmark rates calculated and published at fixed times throughout the day, with the most widely used fixing occurring at 4:00 PM London time (known as the London fix). The WM/Reuters rates are calculated using a methodology based on actual trade data and quotes collected during a window around the fixing time. These benchmarks are used globally by fund managers, pension funds, and corporations to value portfolios and settle international transactions.
Example
“The fund rebalanced its international equity portfolio using the WM/Reuters 4 PM London fix, ensuring consistent currency valuation across all non-dollar holdings.”