‘SOFR First’ for Eurodollars downgraded to ‘best practice’

US dollar Libor transition initiative for listed derivatives comes up short

New-SOFR-discount-rate

A regulatory initiative aimed at flipping quoting conventions for interest rate futures to US dollar Libor’s risk-free successor has been rehashed as a set of best practice guidelines.

The so-called SOFR First initiative, spearheaded by the Commodity Futures Trading Commission’s Market Risk Advisory Committee (MRAC), has proven effective in transitioning over-the-counter derivatives to the secured overnight financing rate since it kicked off on July 26.

Regulators set strict deadlines for

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here