What are CME term SOFR reference rates?

CME Term SOFR Reference Rates provide an indication of the forward-looking measurement of overnight SOFR, based on market expectations implied from derivatives markets.

What is CME term SOFR?

Derived from CME SOFR futures, CME Term SOFR provides a robust and resilient underlying data set based on market expectations implied from derivatives markets. For those transitioning from LIBOR license agreements to CME Term SOFR license agreements, it’s important to understand the license types, key terms, and agreements that are required.

Does CME term SOFR have a reporting obligation?

Where CME Term SOFR is used for Non-Display Benchmark Use, Licensees will have no reporting obligation for such use. CME Benchmark Administration, Ltd. is subject to UK Benchmark Regulation (UK BMR) that requires CBA to report to the regulator the outstanding notional of financial products that reference CME Term SOFR.