What’s New in Term SOFR?

In April, Amir gave a timely update on Term SOFR. In case you missed it: And the calls from the industry to make Term SOFR a more widely traded derivative have only become louder since, with the latest Risk.net article particularly worth a read: It’s a great article, but it does not update readers on […]

A New Plateau in RFR Adoption?

The ISDA-Clarus RFR Adoption Indicator was 51.3% last month. This is the third consecutive month that it has remained around 51%. SOFR adoption hit a new all-time of 58.1%.  €STR adoption remains volatile. Trading activity across all markets was lower than last month. The ISDA-Clarus RFR Adoption Indicator for October 2022 has now been published. Showing; […]

New RFR Trading Records Everywhere we Look

The ISDA-Clarus RFR Adoption Indicator has stayed above 50% for the second month. In September 2022 it remained at 51%. SOFR adoption was at 56.6%, the second highest on record.  €STR trading increased to 23.5%. Trading activity in RFRs hit all-time records across DV01 and notional amounts traded. The ISDA-Clarus RFR Adoption Indicator for September […]

RFRs are now half of the market

The ISDA-Clarus RFR Adoption Indicator has now climbed above 50% for the first time. In August 2022 it hit a new all-time high at 51.1%. SOFR adoption increased to a new all-time high, at 57.2%.  GBP and CHF continue to see nearly 100% of risk traded as RFRs. €STR trading slipped (again) to 19.3%, the […]

SOFR Futures are now bigger than Eurodollars

The ISDA-Clarus RFR Adoption Indicator retained its all-time high of 46.4% in July 2022. SOFR adoption hit a new record at 51.7% of the market. 20.3% of EUR risk traded versus €STR, below last month’s all-time high. July 2022 was a relatively quiet month for trading activity, with the total risk traded falling by ~25% from last […]

The latest on RFR Adoption

The ISDA-Clarus RFR Adoption Indicator recorded another all-time high of 46.4% in June 2022. SOFR adoption was at 49.7% of the market. 23.8% of EUR risk traded versus €STR, a new all time high. June 2022 saw the largest notional ever traded in RFRs, at $86.5Trn. The ISDA-Clarus RFR Adoption Indicator for June 2022 has now been published. […]

SOFR is now over half the market

The ISDA-Clarus RFR Adoption Indicator jumped to a new all-time high of 46.0% in May 2022. SOFR adoption cracked 50% (just!) of the market. 21.8% of EUR risk traded versus €STR, dipping slightly from last month’s all time high. We look at SEF activity in SOFR. The ISDA-Clarus RFR Adoption Indicator for May 2022 has now been published. […]

Latest Data Shows SOFR Trading Soaring

The ISDA-Clarus RFR Adoption Indicator jumped to a new all-time high of 40.5% in March 2022. This has been driven by increased SOFR adoption, hitting a new high of 41.1%. SOFR is now comfortably the largest RFR market. More SOFR risk trades ($11bn DV01) per month than all other RFRs combined.  20.2% of EUR risk traded versus […]