Malaysia Ibor trades vs SOFR in new sign of Asia transition

- By Chris Davis
- 22 Sep 2020

CIMB and Standard Chartered have struck the first cross-currency swap linked to Malaysia’s local interbank offered rate (Ibor) and the US secured overnight financing rate (SOFR), a trade that marks another milestone in the transition of Asia’s cross-currency derivatives markets to alternative risk-free rates (RFR).

The $100 million one-year swap references three-month SOFR on the US dollar leg

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