A Final Check-In On RFRs For The Year

This is my final blog for the year, but the 2023 retrospectives will have to wait for January once all of the data is in. However, as the year draws to a close, I doubt 2023 will be remembered as the year that USD LIBOR finally ceased. That has to be considered a good thing. […]

What is the latest European plan to onshore rates trading?

Almost exactly a year ago, the EU proposed requiring market participants subject to a clearing obligation to clear a portion of the products that have been identified by ESMA as of substantial systemic importance through active accounts at EU CCPs.
The unknown in the past 12 months has been how the EU will define the “Active Account Requirement (AAR)”. In the past few days […]