Calls grow to ease restrictions on term SOFR derivatives
Ban on interdealer trading is raising costs for end-users transitioning from Libor, banks say
Market participants are calling for strict curbs on interdealer trading in term SOFR derivatives to be eased as part of a final push to transition the interest rate market away from US dollar Libor ahead of its ultimate cessation next June.
Term SOFR – the forward-looking version of the secured overnight financing rate – has been widely adopted in the US loan market. Guidelines from the
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