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CME Group's steps to boost SOFR options trading draw praise from US Fed-sponsored panel

( May 5, 2022, 18:00 GMT | Official Statement) -- MLex Summary: The US Federal Reserve-sponsored panel overseeing the Libor transition lauded CME Group’s announcement that it will be taking new steps to increase Secured Overnight Financing Rates options trading. These steps include providing a market-wide fee waiver for SOFR options in June and July, as well as marketmaking incentives during this period to help enhance liquidity in all venues, said the Alternative Reference Rates Committee. US regulators are trying to drive a transition of the exchange-traded options market away from the tarnished US dollar Libor benchmark ahead of its planned expiration in mid-2023.See statement below....

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