A group of 15 major dealers have committed to providing liquidity for derivatives referencing alternative risk-free rates as part of a plan to move the interest rate swap market away from Libor.
"We need to have a rate that is thickly traded so the buy side is comfortable using it. It isn't enough that traders and CCPs [central counterparties] get it, and they want this to happen. You need the buy side to say, 'I'm comfortable with that', which means they need to see it is a well-traded rate," F
The week on Risk.net, July 7-13, 2018Receive this by email