Stats › Currencies and commodities › The 4pm fix
The London 4pm fix was set from 61 snapshots in one minute
| Parameter | Before 15 Feb 2015 | Now |
|---|---|---|
| Window length | 1 minute | 5 minutes |
| Window position | 30 seconds either side of 16:00 London | 2 minutes 30 seconds either side of the calculation time |
| Snapshots taken | 61, one per second | Up to 301 per data source per second-sampled currency |
| Sampling, other currencies | Every second in the one minute window | Every 15 seconds |
| Data sources | A single trading platform | Trade rates pooled across LSEG Matching and EBS |
| Trade currencies | 21 of 160 spot rates | 25 of about 157 |
| Administrator | The WM Company, with Reuters | FTSE International Limited, FCA authorised |
Sources: FSB Foreign Exchange Benchmarks Final Report, 30 Sep 2014. WM presentation to the ECB Foreign Exchange Contact Group, 12 Nov 2015. LSEG WMR FX Benchmarks methodology, version 30, January 2026.
The WM/Reuters 4pm London fix prices about 157 currencies and settles a very large share of the world's index fund trading. Until 2015 it was a median of 61 one second snapshots from a single platform. Traders in private chat rooms moved it.
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