SOFR First, a best practice modeled after the
“I commend the Interest Rate Benchmark Reform Subcommittee on the development of SOFR First and its forward-thinking approach to increasing overall SOFR derivatives trading in order to facilitate a smooth transition of exposures from LIBOR to SOFR. SOFR First's milestone date of
The Subcommittee's recommendations will be submitted to the MRAC for consideration. The views, analyses, and conclusions expressed regarding SOFR First reflect the work of the MRAC Interest Rate Benchmark Reform Subcommittee, and do not necessarily reflect the views of the MRAC, the Commission or its staff, or the
See SOFR First Frequently Asked Questions here (https://www.cftc.gov/media/6051/faq_SOFRFirstTransition060821/download) and under Related Links.