Brokers may flout deadline to darken US dollar Libor screens
SOFR First step raises transparency concerns; threatens publication of Ice swap rates
Interdealer brokers say they may continue to show US dollar Libor swap prices even after regulators have called for screens to go dark in October.
Under the SOFR First initiative, which is promoting a move to the secured overnight financing rate, brokers are being asked to switch off US dollar Libor swap screens altogether after October 22. But two brokers plan to defy those demands, citing transparency requirements and still-current licensing agreements for these feeds.
“Our role is not to
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