- CME Group has amended its procedures regarding Eurodollar futures and options contracts to include procedures that would apply after the permanent end of the 3-month USD LIBOR. It is currently pending approval by the Commodity Futures Trading Commission (CFTC)•The amendments will include procedures that will be applied to ensure open position in contracts are able to transition away from USD LIBOR in organized manner. CME will convert all open positions into positions corresponding to CME Three-Month SOFR Futures or CME Options on Three-Month SOFR Futures contract
- CME has designed the conversion methodology to close align with the approach to OTC IRS fallbacks implemented on Jan. 25, 2021 by ISDA
- https://www.cmegroup.com/content/dam/cmegroup/notices/ser/2021/02/SER-8720.pdf
