Term SOFR trading ban remains as easing talks collapse

Fed working group resolute on interdealer trading restrictions despite looming capacity crunch


Industry attempts to overturn an interdealer trading ban on derivatives linked to the forward-looking version of the secured overnight financing rate, or SOFR, appear to be dead in the water after discussions around a possible easing of trading restrictions reached an impasse, Risk.net understands.

A compromise measure aimed at generating two-way flow in term SOFR swaps was recently rejected by the Alternative Reference Rates Committee – the Federal Reserve-backed group tasked with weaning

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