Interest rate benchmarks

Central banks, national regulators, and local authorities around the world look to us as the pre-eminent provider of benchmark services.

Our interest rate benchmarks

We have over 25 years' experience designing, calculating, governing, and publishing financial benchmarks that lie at the heart of the global financial system. Our interest rate benchmark services provide a combination of reference rate offerings: calculation; calculation and governance; calculation and administration; and calculation, governance, and administration.

We are the administrator of more than 30 key rates and calculation agent for over 40 critical national and regional interest rates and FX benchmarks in 12 different countries, such as Singapore and Hong Kong.

VND VNIBOR Consultation 

VND VNIBOR is the rate at which local Vietnamese banks, who are active in the Vietnamese money market are willing to lend to other banks in Vietnamese Dong (VND). FTSE Russell is reviewing the benchmark methodology with the objective of aligning it with industry best practice. This consultation seeks market participant feedback on proposals to (1) replace contributions with executed trade data, (2) cease tenors where there is no active underlying market and (3) launch new compound average overnight rates. Please download the consultation paper and submit responses to the questions by no later than 10 May 2024.

Non-RBSL administered benchmarks

Vietnam Interbank Offered Rate (VNIBOR)

Provides the average interest rate at which term deposits are offered between prime banks in the Vietnamese wholesale money market.

TWD DF USD/TWD Swap and Implied Interest Rate “TWDDF”

TWDDF was an index that measured the Taiwanese Dollar to USD Dollar foreign exchange and implied interest rate. The index was calculated and published daily when contributions from a minimum of 5 Taiwanese Banks were received. The TWDDF rates were then published as both forward premium/discount reference rates and calculated implied interest rates. 

From the analysis and engagement performed regarding the use of TWDDF, we believed the rates were used by a small number of firms only for internal reference and checking purposes. Feedback confirmed that alternatives are being widely used, such as broker data and TWDF= which also provides Taiwan Dollar Forward Reference rates.

Recognising changes in the market, limited use of the rates and the availability of alternatives, Refinitiv ceased the calculation and publication of TWDDF following the final publication at 11:30 Taipei CST on Friday, 25 August 2023. Please refer to the consultation paper and outcome statement for details.

How it works


For benchmarks that we administer, users of benchmarks enter into licensing agreements with LSEG in order to access timely data or use of the benchmark for financial products. Licensing and corresponding fees vary according to intended use of the data, delivery mechanism, as well as the time of delivery (real time versus delayed access).

Benchmark data is made available on Eikon, through our financial data feeds as well as through third-party market data vendors and other redistributors.

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