Interest rate swap markets now have a supposedly cheat-proof new price benchmark, after London-based Clarus Financial Technology last night began publishing a suite of rates based on trades submitted to swap data repositories (SDRs) - the first time these databases have been used in such a way.
The suite of prices, dubbed SDRFix, is an alternative to IsdaFix - an industry benchmark that is the subject of rigging probes on both sides of the Atlantic. The UK's Financial Conduct Authority confirmed
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