CME Term SOFR Rates
Use the global benchmark for new U.S. dollar lending as implied by transactions in derivatives markets and endorsed by the ARRC.
Data as of April 17, 2024
$5.7T
IN LOANS*
$2.1T
IN OTC DERIVATIVE HEDGES**
CME Group does not warrant the accuracy or completeness of the information.
*Source: Refinitiv Deals Screener.
** Source: SBSDRView from Clarus.
Reliable
Create cash products using reliable 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.
CME Term SOFR Rates Values
BMR compliant, aligned with the IOSCO principles, and ready to use in cash market products, CME Term SOFR Rates provide a 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.
Frequently Asked Questions
Learn all you need to know about how to access CME Term SOFR and whether you need a license.
Watch a video with step-by-step instructions on how to license CME Term SOFR Rates.
Case Studies
Podcast
The loans market has predominantly moved to forward looking term rates, and both corporate borrowers and global lenders are increasingly turning to CME Term SOFR as the forward-looking, risk-free benchmark to support their activities.
In this podcast you will learn how to efficiently transition from USD LIBOR, the opportunities this robust and transparent rate creates for corporate treasurers, and the pitfalls to avoid on your transition journey.
LISTEN NOW
Transitioning a Corporate from LIBOR to CME Term SOFR
CME Term SOFR Resources
Methodology and Statements
Licensing and Fees
FAQ and Guides
Additional 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 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 CME Term SOFR calculations (first 13 SR1 and first 5 SR3) averaged $2.3 trillion in representative notional per day in Q4 2023.
View historical data
How CME Term SOFR works
Learn more about CME 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
Udesh Jha
CME Group Post-Trade Services Risk Management
Tess Virmani
LSTA
Dr. Sam Priyadarshi
Independent
Agha Mirza
CME Group – Interest Rate Products
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