CME Amends Swaps Rule To Facilitate Transition To SOFR

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The Chicago Mercantile Exchange amended a rule on swap elections in connection with the transition from LIBOR to SOFR.

United States Finance and Banking

The Chicago Mercantile Exchange ("CME") amended a rule on swap elections in connection with the transition from LIBOR to SOFR.

Amended Rule 58101.B ("Swap Elections") under CBOT ("Board of Trade of the City of Chicago, Inc.") Chapter 58 ("Treasury Invoice Swaps") changes the floating rate option from USD LIBOR to SOFR. The amended rule will affect all Treasury invoice swap spreads traded on CME.

The rule will become effective on January 23, 2022, for the trade date of January 24, 2022.

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CME Amends Swaps Rule To Facilitate Transition To SOFR

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