Why use our benchmark?

The SIREN benchmark is authorized under the benchmark regime of the Financial Conduct Authority (FCA) of the United Kingdom to provide benchmark/fixing rates that can be used for commercial purposes see https://register.fca.org.uk/s/firm?id=001b000004379veAAA . The FCA’s regulatory regime ensures the accuracy and integrity of the SIREN benchmark. The fair and independent SIREN FX benchmark is available every half an hour – from New Zealand market open on Monday, through to New York close on Friday. The SIREN benchmark is available on nearly 70 currency pairs. To insure its accuracy, SIREN uses an optimal execution algorithm over a 20-minute window. 

The SIREN benchmark rate can be used by corporate enterprises, pension funds and asset managers including the settlement of exchange traded products and subscriptions and redemptions. 

The SIREN benchmark rates are published on this website so that you can verify that your provider gave you the fair rate. Check your rate an hour, a day, a week or a year later. The SIREN benchmark rates are available for you to verify the fairness of your rates whenever needed.

In 2021 the SIREN benchmark would have saved customers an average of over $300 per million traded at 4pm in comparison to trading on the legacy 4pm benchmark.