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WM Company to widen FX benchmark window

The methodology used to compute a currency benchmark at the heart of a global investigation into foreign exchange markets will be changed

The methodology used to compute a currency benchmark at the heart of a global investigation into foreign exchange markets will be changed in an effort to make it less vulnerable to manipulation efforts.

Edinburgh-based WM Company, a unit of State Street Corp and the organisation which calculates the foreign exchange benchmark, will widen the window during which the daily snapshot of currencies is computed from one to five minutes, the company said Monday in an internal memo reviewed by The Wall Street Journal.

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