September 9, 2018
In April 2018, the Secured Overnight Financing Rate (SOFR) went live. The SOFR aims to solve many of the deficiencies of LIBOR, namely a lack of trading. “The SOFR has lots of transactions. In fact, it is 100% transaction based.” O’Connor said. O’Connor said there were about $750 billion worth of trades in SOFR daily.