News
Credit & Fixed Income
The “giant slalom” of the yield curve: Navigating the 10Y-2Y vs. 10Y-3M divergence
By Akshay Gupta
23 Feb 2026
Market Data
Gold outlook for 2026
By TraditionData
17 Feb 2026
Product notification
Interest rates and FX updates: February 2026
By Jessica Kalaria
15 Feb 2026
Interest Rate Derivatives
USD SOFR swaps: why repo matters (and why better data helps)
By Ian Sams
12 Feb 2026
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The Singapore Overnight Rate Average (SORA) is the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore. This alternative reference rate has gained significant traction in the market, as financial institutions look for solutions to replace the fading benchmark of LIBOR.
SORA is based on actual transactions in the market, making it more representative of the current market conditions. Lastly, it is administered by the Monetary Authority of Singapore (MAS), which provides a level of assurance to market participants regarding its accuracy and reliability.
SORA offers a number of unique features that make it a valuable tool for financial services professionals. These features include:
As a reference rate for pricing financial products such as bonds, loans, and derivatives.
As a benchmark rate for determining interest payments on savings and deposit accounts.
As a basis for determining the exchange rate between the Singapore dollar and other currencies.
As a benchmark for benchmarking fund performance.
As a reference rate for assessing the creditworthiness of borrowers.
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