Clock auctions: a stitch in time for Libor?

MIT professor says Nobel-inspired mechanism could cut basis risk and ease $74trn Libor shift


March 5, 2021 wasn’t quite the Ides of March, but nonetheless, it set the scene for a historic end – the date that determined Libor’s demise.

The Financial Conduct Authority (FCA) announced that for euro, Swiss franc, yen and sterling Libor – and for one-week and two-month US dollar tenors – final publication would be on December 31, 2021.

The end-date for one-month, three-month, six-month and 12-month dollar Libor, was set for June 30, 2023.

In their place, market-agreed fallbacks, such as

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here