The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for global financial services announced that it 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) as well as other new fallback rate indices by June 30, 2023.
Market participants will be able to access the solution through DTCC’s Legal Notice System (LENS), a repository of notices designed to report organisational actions that affect securities issues from issuers, agents, and trustees, as well as via an automated data feed that will support machine-to-machine capture of standardised reference data.
