Goldman Sachs is among seven major derivatives dealers to use MarkitSERV services to process SOFR transactions.
Major investment banks clear the first US interest rate swaps using US Libor alternative benchmark SOFR.
Citibank allegedly made millions in “unjust gains” from governmental and not-for-profit counterparties by manipulating the USD Libor benchmark.
Société Générale was found to have manipulated and made false reports in connection with Libor and Euribor over a six year period.
CurveGlobal launched three-month Sterling Overnight Index Average (SONIA) futures earlier this year.
Former Deutsche Bank trader Guillaume Adolph fined £180,000 and banned from industry by the FCA.
Libor is in the process of being phased out and will be replaced by SONIA in April this year.
SONIA futures contracts aim to facilitate the UK’s transition from the LIBOR benchmark.
Neil Danziger has also been banned from the industry after manipulating Japanese Yen Libor submissions at RBS.
FCA will no longer sustain Libor as bank submissions have not improved, according to chief executive, Andrew Bailey.