CME group launches Sofr swap clearing and Sonia futures

Chicago Mercantile Exchange (CME) Group on Monday released clearing for OTC swaps based on the secured overnight financing rate (Sofr), the preferred benchmark to replace dollar Libor.

  • By Costas Mourselas
  • 01 Oct 2018

The exchange group also launched its Sonia futures product set, marking another step towards replacing Ibor-benchmarks with alternative reference rates.

According to a notice on the CME’s website, the OTC Sofr clearing service is composed of overnight index swaps and basis ...

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