FMDQ Methodologies are a set of procedures applied by the OTC Exchange to derive and calculate daily Fixings and market closing rates/prices. The determination and calculation of Fixings and closing rates/prices include a validation process whereby, among other steps, FMDQ reviews data submissions and fix rates/prices pursuant to certain pre-determined tolerance checks.
FMDQ has put in place internal guidelines and quality control procedures that govern the application and calculation of all Fixings and closing rates/prices. These controls are intended to provide consistency and oversight to this process.
All methodologies are subject to periodic review and amendments, keeping in line with best practices.