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Benchmark Reference Rates.

BMR-compliant reference rates built with a rigorous construction methodology and expert governance.

Rates Rulebook

BMR-Compliant Rates for Digital Assets

Our rules-based reference rates are designed for intraday and end-of-day valuation by financial professionals.

Each Benchmark Reference Rate is calculated in real-time (every 5 seconds), as well as being published as a daily fixing covering three different time zones: London (16:00 UTC), Singapore (08:00 UTC), New York (20:00 UTC).

  • Exchange Due Diligence
    Strict vetting of data sources to include only the most trusted and liquid exchanges.

  • Reviewed Quarterly
    The composition of each rate is reviewed to reflect current market conditions.

  • Robust Aggregation Methodology
    Volume-Weighted median combined with a TWAP to reflect a fair price.

  • Buffering Rules
    Used to mitigate exchange turnover in the rate composition during rebalancing.

  • FOREX Converted Rates
    Kaiko rates integrating TP ICAP FOREX conversions for trusted valuation in multiple currencies.

All Kaiko Rates


Kaiko Digital Asset Rates Rulebook

Methodology and details on the construction of all rates.


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