Nex launches new JPY benchmark and teams up with FFAJ

Nex Data and Nex Markets provide margin ratios for 170 currency pairs, following new regulatory requirements in Japan

Tokyo skyline
Tokyo, Japan: “It is a huge honour to work with the FFAJ on this ambitious project" – Kevin Taylor

Nex Data and Nex Markets have launched a new benchmark for the yen – a fully electronic, transaction-backed reference rate, published daily at 3pm Tokyo time.

The benchmark is calculated using rates from executed trades during the five-minute fixing window on the EBS Market central limit order book (Clob) and it has been created using methodology consistent with the Iosco Principles for Financial Benchmarks.

The benchmark is distributed by Nex Data, a business of Nex Group, which delivers inde