The regulator confirms plans to publish synthetic one, three and six-month US dollar Libor rates until September 2024, while sterling Libor will continue until March 2024, extending the original deadlines to assist with cash contract transitions.
The derivatives exchange will convert all eligible Eurodollar futures and options to SOFR by April 2023.
New survey finds that over 50% of firms no longer trade USD Libor-indexed products, suggesting that the transition away from USD Libor is well underway.
FCA has confirmed all Libor settings will cease immediately on 31 December for major currencies as firms are urged to complete transition plans.
Following a positive reception from potential users Refinitiv is set to go live with Term SONIA benchmark supporting LIBOR migration.
The ICE benchmark administrator will consult on intentions to stop publication of all GBP, EUR, CHF, and JPY Libor settings after December next year.
CFTC releases no-action letters offering further relief for clearing organisations during Libor transition
The two no-action letters will offer swap transaction and pricing data reporting relief to clearing organisations transitioning to SOFR.
Data arm of Tradition will publish spreads between AMERIBOR, SOFR and EFFR via Refinitiv, Bloomberg and its own data feeds.
The latest no-action letters issues by the CFTC follow the regulator’s move to provide market participants relief in December.
Eurex has cleared the first USD SOFR swaps with JP Morgan and LBBW in latest development for the benchmark transition process.