An end-of-day FX rate set must be complete and independently verified
Table of Contents
1. Summary
An end-of-day market data process aims for one complete and consistent price set that represents the market on that day. It usually runs before P&L computation. A rate that comes from the trading desk needs independent price verification.
2. Detail
Valuation control performs this check independently of the end users, in line with prudent valuation guidance.
3. See also
- FX forwards — the structure note.
- Spot rate governance — completes: the spot side of this control.
- ORE Studio publishes FX forwards derived from published curves — contradicts: a computed forward has no end-of-day record of its own yet.
- Approval requests — completes: a mechanism that could carry a sign-off.