FCA has confirmed all Libor settings will cease immediately on 31 December for major currencies as firms are urged to complete transition plans.
The electronic basis swap compression trade was executed on the Bloomberg SEF, which offers trading in credit default swaps, interest rate swaps, and FX derivatives.
The cross-currency basis swap between Bank of America and Lloyds highlights LCH's commitment to supporting the reform of reference rates.
Data arm of Tradition will publish spreads between AMERIBOR, SOFR and EFFR via Refinitiv, Bloomberg and its own data feeds.
Eurex has cleared the first USD SOFR swaps with JP Morgan and LBBW in latest development for the benchmark transition process.
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.