LCH: Libor Conversion

Following the successful conversion of GBR LIBOR swap contracts into SONIA this weekend, Susi de Verdelon, Head of SwapClear and Listed Rates at LCH Ltd. said:

“LCH SwapClear successfully converted around 185,000 GBP LIBOR swaps contracts into SONIA this weekend, the risk free rate (RFR) equivalent, representing an aggregate value of £11.3 trillion."