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IBOR Reform

IBOR Reform

The IBOR reform is the biggest change in the capital markets since the introduction of the Euro two decades ago. For the past decade, the global regulatory community has driven a reform of the interbank offered rates (IBORs) in order to renew confidence in these critical benchmarks.

In the Eurozone, the Euro Interbank Offered Rate (Euribor) and the Euro Overnight Index Average (EONIA) are considered critical benchmarks. In September 2018, the ECB’s Euro Risk-Free Rate Working Group recommended that the Euro Short Term Rate (€STR) shall replace EONIA, while also providing the basis for developing fallbacks for contracts referencing Euribor.

While €STR will not be released by the ECB until October 2, 2019, preparation for the transition from EONIA to ESTER €STR are well underway, including publication of a pre-€STR rate. Read more on the future development plans from a market infrastructure provider and leading derivatives exchange’s perspective.  

Eurex Group is committed to help the market to transition to new risk-free reference rates.

Working Group on Euro Risk-Free Rates

The working group on euro risk-free rates was established to identify and recommend risk-free rates that could serve as a basis for an alternative to current benchmarks used in a variety of financial instruments and contracts in the euro area, such as EONIA and Euribor.

Q & A: Euro short-term rate (€STR)

Find out more about €STR on the ECB’s dedicated page. What is the scope and what is the difference between €STR and EONIA? Which banks are contributing to the €STR? 

Derivatives Forum Paris

Join our dedicated breakout session:

Transitioning from IBOR to Risk Free Rates

This panel will provide you with pivotal insights into the key challenges firms face in the lead up and how they are preparing for a post-Libor environment.


Contacts

Sales

Philip Simons

T +44 207 8 62 72 39

philip.simons@deutsche-boerse.com


Sales 

Megan Morgan

T +1 312 5 44 10 83

megan.morgan@eurexchange.com

Marketing

Daniela Prusina

T +49 69 2 11-1 64 81

daniela.prusina@eurexchange.com