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US CFTC staff 'strongly encourages' derivatives market participants, trading venues to follow advisory panel’s Libor recommendations

( July 14, 2021, 17:39 GMT | Official Statement) -- MLex Summary: US Commodity Futures Trading Commission staff said it “strongly encourages” derivatives market participants and swap execution facilities to follow the nonbinding “best practices” recommendations of a commission advisory panel yesterday about the transition from Libor. The panel recommended that interdealer brokers stop trading with Libor, and use Secured Overnight Financing Rates instead, by July 26. It also said these brokers could continue to use screens showing Libor, but only for informational purposes, until Oct. 22, after which the screens should be turned off. See document below....

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