Prep now for one-day lag in Eonia, market told
Overnight batch calculations will have to run during the day, following change to doomed benchmark
Users of Eonia-linked instruments should start preparing for a one-day lag that will hit the publication of the benchmark from October, and also think about repapering longer-term contracts, according to a member of a key working group.
The lag means each day’s rate will be published the following morning, affecting when market participants run portfolio calculations.
“Our batches on these
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