CME Group to introduce €STR term rates

The rates will be published in tenors of one, three, six, and 12 months, confirmed the firm.

CME Group is set to introduce CME Term €STR reference rates in response to client demand.

Across the market, participants are keen for a term rate anchored in €STR markets, said the firm.

The rates will be published in tenors of one, three, six, and 12 months and are based on CME Group’s liquid €STR futures and OTC swap market data. 

“We are introducing €STR term rates in response to client demand for a more robust and transparent term rate for the growing €STR ecosystem,” said Max Ruscher, head of benchmark services, CME Group. 

“Building on the increasing liquidity in our €STR futures market and OTC trade data, our term rate is based on comprehensive derivatives transactions data that will help clients build lending and fixed income products.” 

Read more: CME Group set to launch €STR options in Q1 2024

Since the launch in October 2022, more than 5 million €STR futures contracts have been, said the firm.

«