Bloomberg, IHS Markit join race for SOFR credit add-on
BSBY index seen as ‘easy option’ add-on for regulator-preferred RFR; Markit preps for Q2 launch
Participants demanding a credit spread add-on for the secured overnight financing rate may now be spoilt for choice. Four firms are vying to be the go-to provider of a bank funding spread, which could be layered onto the Federal Reserve-backed Libor successor in US lending markets.
The newest entrants, Bloomberg and IHS Markit, have devised methodologies which broadly resemble a blueprint from
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