CME launches late term €STR bid
US exchange giant challenges Emmi and FTSE with rate built on €135 billion of daily transactions
CME is preparing to launch a term of version of the euro short-term rate, or €STR.
€STR is tipped to become the main interest rate benchmark for euro swaps within the next five years, despite a lack of regulatory pressure to switch from Euribor, the legacy panel-based lending rate.
CME’s term version, currently in beta mode and expected to go live at the end of the first quarter of 2025, will go
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