Term SOFR trading ban remains as easing talks collapse

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

Interdealer-term-SOFR-prohibition-remains

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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