The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the global financial services, has launched its new LIBOR Benchmark Replacement Index solution to support the industry’s transition from LIBOR benchmark rates to Secured Overnight Financing Rate Data (SOFR) and other new fallback rate indices.
Market participants will be able to access the solution through DTCC’s Legal Notice System (LENS) and view information for over 100,000 debt securities whose rate is currently based on USD LIBOR.
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