Security code (RIC) for the BYN currency

Michiel.Weel

I would like to know the securitycode (RIC) for the Belarusian Ruble (BYN) which will be active as if the 1st of July

Christiaan Meihsl

The RIC for the spot rate will be BYN=. The new “BYN” RIC codes will be available on 30th June 2016 after market close 17:00 NYT.

Note the official conversion rate: 10000 BYR = 1 BYN.

If you have access to the customer zone you can see the data notification here. Here is an extract from that data notification:

Description of DN086422 Forex & Money Markets:
What is the change:
Effective 1st July 2016, As per the announcement made by the Central Bank of Belarus, the ISO code for the Belarus will be changed from “BYR” to “BYN” resulting in the creation of a new spot rate RIC <BYN=> which will be redenominated by a factor of “10000”.

Why is the change occurring:
This change on the impacted RICs is due to the directive issued by the Bank of Belarus, the currency will be redenominated by a factor of “10000” and the ISO Code changed to “BYN” from “BYR”.

What is the impact:
The 3 letter ISO Code on all the impacted “BYR” RICs will be changed to “BYN”, on the effective date clients will need to re-map their systems applications to the new “BYN” RIC codes.

The spot rate <BYR=> will stop updating as of 31st December 2016. The old “BYR” RICs however will remain on the product till 31st December 2016 market close. All the associated Forwards, Crosses and Deposit rate RICs carrying the old currency code will be dropped on 31st Dec 2016 at 22:00 NYT.

The new “BYN” RICs codes will be available on 30th June 2016 after market close 17:00 NYT.

Historical data from the old spot RIC <BYR=> will be rebased by a factor of “10000” and the data will be copied over to the new RIC <BYN=>. The old spot RIC <BYR=> will cease to update on 1st January 2017, but it will continue to remain on the product for reference purposes.

Please note the intraday ticks for the new BYN RICs will be supported from DAY 1 and intraday history will not copied from old BYR RICs to new BYN RICs.

What do Thomson Reuters customers have to do:
Clients need to make note of this change and refer to the new ISO Code RICs from the effective date 1st July 2016. A full list of impacted instruments has been provided in the attachment.