This month IFLR is collaborating with Practice Insight to gauge the market sentiment on the secured overnight financing rate's progress as the NY Fed looks to replace USD Libor
Libor is no more – well, that's what they say, at least. When the infamous trader Tom Hayes first realised he could manipulate the rate for his own profit, he can't have imagined that 15 years later, thousands and thousands of consultants, lawyers, bankers and of course financial journalists would still be wrapped up in the process of making sure that it could not happen again.
Hayes did most of his best work in Hong Kong, but the ramifications were global. As a result, Libor will be effectively discontinued across the world by the end of next year.
With this in mind, IFLR has teamed up with sister publication Practice Insight for landmark survey to ask respondents how well they think the leading US replacement, the secured overnight financing rate (SOFR), is developing in comparison to some of its overseas counterparts.
This question was asked as part of a wider survey looking at the overall development of the fledgling rate.
Enjoy the report.
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