SOFR OIS Volume in 1-3y tenors grew to a monthly record $72.1 billion in February, featuring strong growth from both OTC Swaps (up 106% from January) and Eris SOFR Swap Futures (up 214%)
Overall SOFR OIS volume jumped 67% in February to a record $170 billion notional across swaps and swap futures in all tenors, according to data from Clarus Financial Technology and CME Group
The new record high month for SOFR occurs as market participants anticipate a potential formal notice of Libor cessation from the UK FCA and/or IBA
Eris SOFR volumes more than tripled in February, reaching 6,837 contracts traded per day
Libor swap volume increased 7% during the same period
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