Split emerges over data requirements for term €STR
Refinitiv warns against relying on Level 2 inputs, as Emmi targets October launch
Benchmark provider Refinitiv is warning there may be insufficient pricing data to introduce a forward-looking version of the euro short-term rate (€STR) in the coming months – a view that puts it at odds with the European Money Market Institute (Emmi), which is pressing ahead with plans to launch its term €STR rate in October.
“There have been hopes of sufficient data for a while, but as of now that’s not the case,” says Jacob Rank-Broadley, head of Libor transition at Refinitiv.
Emmi and
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