Changing Interests
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Statement Regarding Open Market Desk Operations on Thursday, April 1, 2021 - FEDERAL RESERVE BANK of NEW YORK
newyorkfed.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newyorkfed.org Daily Mail and Mail on Sunday newspapers.
LONDON/NEW YORK (March 2): The Federal Reserve is intensifying its scrutiny of banks’ efforts to shed their reliance on the London interbank offered rate, and has begun compiling more detailed evidence on their progress, according to multiple people with knowledge of the matter.
Banks are being asked for specifics on their Libor exposure, their plans for amending contracts tied to the benchmark, and the fallback provisions being utilized to facilitate the shift to alternative rates, said the people, who requested not to be named given the sensitivity of the inquiries. The move is viewed partly as way for the Fed to telegraph the urgency of the transition, but also as a prelude to concrete supervisory action in the months ahead.
Traders Magazine
0 Shares
CME Group, the world’s leading and most diverse derivatives marketplace, today announced that Secured Overnight Financing Rate (SOFR) futures reached a daily volume record of 265,511 contracts on February 25, surpassing the previous record of 240,288 contracts on November 19, 2020. SOFR futures open interest also set a new record of 757,943 contracts yesterday, exceeding the prior record of 751,594 contracts on February 24. New records in CME Group STIR and Treasury markets:
⚫️ #SOFR futures volume: 266K contracts
⚫️ SOFR futures open interest: 758K contracts
⚫️ #Eurodollar 3-Year Mid-Curve options volume: 1.4M contracts
⚫️ U.S. Treasury options volume: 2.9M contracts
“We are pleased with the growth of our increasingly robust SOFR futures market, as well as the continued development of the overall SOFR ecosystem at CME Group,” said Agha Mirza, Global Head of Interest Rate and OTC Products, CME Group. “This SOFR milesto