LCH hits $1tr Sofr clearing mark
LCH's SwapClear has cleared $1tr of swaps referencing the Secured Overnight Financing Rate (Sofr) so far this year.
The Tuesday announcement comes on the back of already building liquidity in Sofr-referencing derivatives. Since September's volatility in the US repo markets, Sofr futures' use has spiked at CME Group.The CCP said that a liquid Sofr swaps market would be crucial in enabling the US market’s transition ...
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