The European Commission’s working groups on challenges posed by the euro clearing migration have come to an end with no meaningful conclusions, leaving many market participants unsure about what to do
Progress remains limited in the transition from Eonia to €STR, but some market participants are hopeful that two imminent milestones will help to tip the balance decisively
The ARRC maintains that the term rate recommendation was underpinned by a SOFR trading spike, but sources suspect the real motive was to offset growing demand for credit-sensitive rates
