SOFR USAGE EXPANDS DESPITE CRISIS
By Owain Johnson Apr 9, 2020
AT A GLANCE
- Open interest in the Secured Overnight Financing Rate hit 612,000 contracts in March
- Surprise rate cuts and easing by the Federal Reserve contributed to this increase
The unprecedented turmoil that COVID-19 has brought to financial markets has not slowed down activity in the new U.S. interest rate benchmark, the Secured Overnight Financing Rate (SOFR).
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