LCH SwapClear said it is the first clearing house to offer swaps benchmarked to the secured overnight financing rate (SOFR).
CME Group will launch options based on three-month SOFR futures as of 6 January next year.
Five major market participants have cleared $200 million in notional of OTC SOFR swaps since CME launched the product in May this year.
Data sets for derivatives linked to SOFR will support trading and risk modelling as volumes are expected to rise.
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.