News
Energy & Commodities
Jet Fuel Demand Shows Promising Signs of Recovery
By Francesca Marrone
13 Mar 2024
Market Data
USD Corporate Bond Sales Reach Record $228 Billion in February 2024
By Jim Mahn
8 Mar 2024
Tradition Continues to Outperform Competitors in February 2024
By Ian Sams
7 Mar 2024
Tradition Mexico acts as Intermediary for the first MXN Overnight TIIE Swaps Trade
9 Feb 2024
Product notification
25 new USD SOFR Butterfly Spreads added to package
13 Feb 2023
"*" indicates required fields
Δ
The SOFR Indicative Rate Service combines market leading general collateral repo trade and volume data sourced from our number one inter-dealer brokerage desk with anonymized tri-party repo trade and volume data from BNY Mellon.
By taking incoming data from both Tradition and BNY Mellon, and using a proprietary methodology, we produce a volume-weighted median repo rate throughout the day which informs our clients of where SOFR will fix the following day.
The industry in the US transitioned from LIBOR to SOFR, the leading alternative benchmark, on 30th June 2023.
Market relevance -This rate form the benchmark interest rate for dollar-denominated derivatives and loans around the world.
Market insight – Every day at 8am the NY Fed publishes the SOFR rate by calculating the volume-weighted median (50th percentile) of transactions in three overnight US Treasury repo markets: Tri-party Repo cleared through BNYM, General Collateral Finance (GCF) Repo cleared through FICC, and Bilateral Repo (DVP).
Delivery channels & frequency – The indicative SOFR rate is available directly from TraditionData and AWS Data Exchange. Shortly it will also be available through BNYM’s Marketplace. The rate is available throughout the day on an hourly snap basis and as an end-of-day rate at 4:30pm.
Value experienced – Our SOFR Indicative Rate Service helps inform your decision making whether you participate directly in the overnight repo market or you leverage financial instruments where SOFR is used in determining the amount of interest paid.
TraditionData’s SOFR packages provide the most robust, comprehensive and accurate view of the American Markets.