MetLife executes $250 million SOFR-linked repo

Isda AGM: US insurer's hedging chief says systems issues hindering its use of derivatives, however

MetLife

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MetLife has recently executed a $250 million repo trade linked to the secured overnight financing rate (SOFR), but the insurer’s hedging chief says technology issues have held up its use of the rate in derivatives transactions.

Jason Manske, chief hedging officer and head of the global derivatives and liquid markets group at MetLife, said the SOFR-linked repo trade gave the insurer a saving of 5–10 basis points over a regular repo trade. Term repo is

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