Thomson Reuters buys full control of WM/R

The firm now owns State Street Corp subsidiary The World Markets Company and with it the FX benchmark

Tobias Sproehnle, Thomson Reuters: "We are excited about the addition of this essential service"

Thomson Reuters has acquired The World Markets Company, a subsidiary of State Street Corporation, which owned the calculation business of the WM/Reuters foreign exchange benchmark rate.

The acquisition, effective today (April 4), gives Thomson Reuters full control over the benchmark in terms of the ownership, administration and delivery of the data to the market.

It is understood Thomson Reuters will continue to employ the same WM team to operate the service and adopt the patented methodology

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