CME Term SOFR Rates

Use the rapidly growing global benchmark for new U.S. dollar lending as implied by transactions in derivatives markets and endorsed by the ARRC.

$1.56T

IN LOANS*

5,200+

TOTAL LICENSES ISSUED

1,230+

FIRMS UNDER LICENSE

$268B

IN OTC DERIVATIVES HEDGES**

Data as of July 1, 2022
*Source: Refinitiv Deals Screener.
** Source: SBSDRView from Clarus.
CME Group does not warrant the accuracy or completeness of the information.

Reliable

Create cash products using reliable reference rates built to perform in all market conditions, including illiquid and negative rates markets.

Robust

Use rates built on bona fide transactions executed by a diverse range of market participants, making them representative and resistant to manipulation.

Transparent

Capitalize on rates that are determined using a transparent calculation methodology designed to ensure yield curve integrity.

Term SOFR Rates Values

BMR compliant, aligned to IOSCO principles, and ready to use in cash market products, CME Term SOFR Reference Rates provide an indicative, forward-looking measurement of SOFR rates, based on market expectations implied from leading derivatives markets.

In accessing this proprietary data from this website, you acknowledge you have read and agree to all CME Data Terms of Use. To discuss licensing options, please contact CME Data Sales.

CME Term SOFR Reference Rates are administered by CME Group Benchmark Administration Limited (CBA) which is registered under Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (SI 2019/657) is authorized and supervised by the UK Financial Conduct Authority (FCA) and is aligned to the IOSCO Principles for Financial Benchmarks.

*The SOFR and SOFR AVERAGES data is sourced from newyorkfed.org and is subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of the SOFR and SOFR AVERAGES data by CME Group, does not sanction or endorse any particular republication, and has no liability for use.


Resources

How to access

Direct from CME Group

Real-time data via CME Market Data Platform and Smart Stream on Google Cloud Platform.
Delayed and historical data via CME DataMine.

Bloomberg

1 Month

TSFR1M

3 Month

TSFR3M

6 Month

TSFR6M

12 Month

TSFR12M

Refinitiv

1 Month

.SR1M

3 Month

.SR3M

6 Month

.SR6M

12 Month

.SR1Y

1 Month

TR1

3 Month

TR3

6 Month

TR6

12 Month

T1Y


A robust underlying data set

CME Term SOFR Reference Rates are derived from CME SOFR futures, an increasingly robust and resilient underlying data set. Bolstered by a deep and diverse pool of market participants, volume in CME SOFR futures contracts underpinning Term SOFR calculations (first 13 SR1 and first 5 SR3) averaged $957 billion in representative notional per day in Q1 2022.

View historical data

How CME Term SOFR works

Learn more about Term SOFR, how the data is collected, how it's computed and when it's published. 


Oversight Committee

The oversight committee will provide independent governance, and challenge to the Administrator on all aspects of the benchmark determination process in accordance with the Oversight Committee Terms of Reference.

Owain Johnson (Chair)

CME Group Research & Product Development

Harriet Hunnable

Independent

Prof. Robert Merton

Independent

Karl Abdelnour

Citigroup

Meredith Coffey

LSTA

Sunil Cutinho

CME Group – CME Clearing

Agha Mirza

CME Group – Interest Rate Products

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