LCH cuts to the chase in SOR conversion plan

Proposal would skip interim stage in demise of Singapore’s outgoing rate


LCH is proposing to flip its book of cleared Singapore dollar interest rate swaps away from the market’s doomed swap offer rate (SOR) to its replacement – the Singapore overnight rate average (Sora) – some 18 months before the legacy benchmark is axed. Currently, the SOR book at LCH contains trades worth around $300 billion notional.

The plan is an attempt to bypass headaches associated with SOR’s two-step demise. Next year, SOR trades will jump to a different, temporary version of the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here