The SOFR Swaps market is now mature and fully developed. Almost all activity in OTC markets longer than 2 years is now traded versus...

The ISDA-Clarus RFR Adoption Indicator declined to 51.1% last month. This is the sixth consecutive month that it has remained around 51%. SOFR adoption dropped...

CORRA First was put in place on January 9th 2023 to help CAD interest rate derivatives transition from CDOR to CORRA. For all of...

SOFR Swaps are the standard trade for dealer-to-dealer USD Swaps Trading as Spreadovers, Outrights, Curves and Butterflys Market share is best measured using a...

How much of the USD Rates market is now traded versus Fed Funds (“EFFR“)? We run through the data and find that it really...

With Cross Currency Swap blogs continuing to perform well on the Clarus Blog each year, let’s take a look at what traded during 2022....

As January slips by, we will shortly be staring at June 30th 2023 when USD LIBOR will finally cease publication. Whilst all signs suggest...

CDOR will cease publication in June 2024. This requires Canadian Rates markets to transition to CORRA OIS. The first “CORRA First” initiative will take...

The ISDA-Clarus RFR Adoption Indicator was 51.4% last month. This is the fourth consecutive month that it has remained around 51%. SOFR adoption hit a...

The end of the year is a traditional time to reminisce. In that spirit, I remember writing my first blog on AUD swap markets...

The January 2022 ISDA-Clarus RFR Adoption Indicator has now been published. It delivers a few really important lessons about the underlying markets (and data). The headlines include: A virtually unchanged headline adoption rate of 31.9%, versus 31.7% for the previous month. The full time-series is available at rfr.clarusft.com: 99.8% of all new GBP and CHF […]

The ISDA-Clarus RFR Adoption Indicator was published last week, covering December 2021. December saw some notable (!) events, including: Conversion of GBP, JPY and CHF positions into RFRs at major CCPs. Cessation of LIBOR in those three currencies (at the very end of our sample period). Activation of ISDA Fallbacks for any bilateral positions outstanding […]