As the transition from Eurodollars (ED) to SOFR accelerates, we’ve developed two new resources to help clients better navigate the transition:
- Transition FAQ – Learn about Eurodollar fallbacks and ways to shift positions prior to June 2023.
- Daily SOFR/Eurodollar Market Update – Get a daily recap of trading activity in SOFR contracts relative to Eurodollars delivered to your inbox each morning. Sign up via the subscription center under “Interest Rate Reports”.
Volatility in U.S. rates has not slowed down the transition to SOFR. Rather, adoption has accelerated across futures, options, and swaps.
- ADV grew to 1.6M contracts in March (62% of ED).
- OI rose to 4.56M contracts (42% of ED) as of Apr. 5.
- SOFR’s share of ED trading increased for nine consecutive weeks, reaching a weekly high of 69% and a daily high of 80%.