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.
Tag: Libor
TraditionDATA integrates AMERIBOR with reference rate data sets
Data arm of Tradition will publish spreads between AMERIBOR, SOFR and EFFR via Refinitiv, Bloomberg and its own data feeds.
CFTC provides additional Libor transition relief to swaps participants
The latest no-action letters issues by the CFTC follow the regulator’s move to provide market participants relief in December.
JP Morgan and LBBW clear first SOFR swaps at Eurex
Eurex has cleared the first USD SOFR swaps with JP Morgan and LBBW in latest development for the benchmark transition process.
Buy-side advance efforts in Libor transition
New data from the Investment Association reveals that 70% of asset managers reduced exposure to Libor in 2019.
ICE launches beta version of SONIA reference rates
ICE Benchmark Administration has started publishing beta term SONIA rates for testing, using data from BGC, TP ICAP, and Tradition’s Trad-X central limit order books.
Bank of England and FCA warn Libor transition timeline could be impacted
Market participants have been told that despite disruption, the transition away from Libor is still targeted for the end of 2021.
Industry urged to accelerate Libor transition this year
Despite Libor being due to cease at the end of 2021, UK authorities have set out a timeline for the shift to the Sonia benchmark throughout this year.
CFTC issues ‘no-action’ letters to swaps market participants on Libor transition
Three divisions of the CFTC have issued ‘no action’ relief for firms active in the swaps market transitioning from Libor to alterative benchmark.
Buy-side face operational risks if they don’t prepare for Libor transition
Failure to update legacy contracts ahead of Libor’s termination could have serious operational and investment risks for asset managers.