Hedging Rises on New Benchmark Rate Amid Concerns of Quarter-End Swings

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Hedging Rises on New Benchmark Rate Amid Concerns of Quarter-End Swings
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Trading of swaps using the benchmark rate expected to replace Libor surged to a record in March

About $12.1 billion in swaps linked to the secured overnight financing rate, or

changed hands in March, data through Monday shows. which was introduced by the Federal Reserve Bank of New York in April 2018, is the leading alternative to the discredited London interbank offered rate, known as Libor.

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