Real-Time Reference Rate
Definition
The Real-Time Reference Rate is a reference price calculated every second from live order book data on Korean won markets.
Where the Daily Reference Rate is an official price fixed once a day, the Real-Time Reference Rate reflects intraday price movement continuously. Because it is calculated from the order book rather than by aggregating trades, it can express the current market value without gaps even when no trades occur.
Details
The Real-Time Reference Rate is calculated every second from live order book data on domestic Korean won markets.
It applies the same design principles as the Daily Reference Rate, so the basis remains consistent between intraday and fixed daily prices and the two can be used together without a mismatch in valuation basis.
The Real-Time Reference Rate is used where prices must update continuously, such as intraday portfolio valuation, risk monitoring and collateral valuation.