News and Notices

Inappropriate calculation of TORF Official Rates, etc.

QUICK Benchmarks Inc.

Based on the Policy on Treatment of Revisions to TORF Official Rates, etc. (hereinafter referred to as the “Revised Policy”), we announce the situation of inappropriate calculation of TORF Official Rates, etc. from February 1 to April 28, 2022.

During this period, we have no report of new inappropriate calculation on TORF Official Rates, except for the inappropriate calculation[1] which was published on April 15, 2022.

Date Principal Impact on Official Rates Revision of Official Rates
February 9, 2022
Reporting broker Yes (*2) No

*1 Due to the omission of some reported data by a reporting broker, which are observed in the regular monitoring from November 2021 to January 2022, an Official Rate on February 9, 2022 was also affected. This matter has already been announced on April 15, 2022, and treatment based on the TORF Operational Rules was conducted.
*2 A part of reported data from a reporting broker was detected to have errors, and re-calculation based on the accurate reporting data was conducted, there was a difference from Official Rates. However, the difference was lower than the criteria defined in the Revised Policy, “In the event of a significant impact on the level of Official Rates (The threshold is set at 0.02%.).”