Image
May 13, 2013

UK vs US regulators on Libor | FT article

A dual track system to pave the way for a new benchmark tied more closely to objective data? At least this is what Martin Wheatley, the UK regulator leading efforts to reform the London Interbank Offered Rate, has told the Financial Times. On the other side of the Atlantic however, this idea would not seem that appealing as US regulators push for “prompt” switch to transaction-based rates. Mr Gary Gensler, chairman of the US Commodity Futures Trading Commission, which spearheaded the Libor probe, is more than eager to get rid of the "malicious" libor and find its sucessor…. More details here (FT subs). Maria L. Bill: Surely the millions of OTC transactions that reference LIBOR can't be moved to a new underlying index without huge legal and pricing impacts, taking years to complete? Even an ISDA 'protocol' wouldn't be sufficient I suspect – any other views?


Popular
Most Viewed

Image

Related Articles


September 15, 2022

Tradefeedr Hires Alexis Fauth as Head of Data Science and Client Analytics




2 MIN



FX


September 6, 2022

Siege FX announces the launch of NetFix




2 MIN



FX


August 2, 2022

OSTTRA and LCH collaborate to reconcile bilateral OTC trade data




2 MIN



Post Trade Processing