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Securities Trade Groups Brace For Benchmark Transition

Law360 (February 1, 2018, 5:50 PM EST) -- Four trade associations on Thursday outlined challenges the financial industry will face in changing financial market contracts and practices to reflect new risk-free overnight interest rates central bankers have called for in an effort to replace benchmarks that have been rocked by scandal.

The International Swaps and Derivatives Association, the Association of Financial Markets in Europe, the Securities Industry Financial Markets Association and SIFMA’s asset management trade group published a report highlighting the biggest obstacles in transitioning toward new risk-free rates, or RFRs.

Those challenges, according...
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