Associated tags: American Economic Association, LSTA, APLMA, Bretton Woods Committee, Commerce, American Bankers Association, ISDA, BWC, USCC, ABA, Finance, AXI, Banking, Professional Services, SOFR, University, FXI, Index, NYSE, Tsinghua University, Education, International Swaps and Derivatives Association, Loan Syndications and Trading Association, Invesco, Other Education, U.S. Chamber of Commerce Building
Locations: BEIJING, CHINA, SINGAPORE, JAPAN, ASIA PACIFIC, TOKYO, UNITED STATES, NORTH AMERICA, NEW YORK, CHICAGO, BRAZIL, INDIA, EUROPE, MEXICO, AEA, ASIA
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Risk management Mr. Matturri was previously Chief Executive Officer of S&P Dow Jones Indices (“S&P DJI”), a position he held from 2007 until retiring in 2020.
Key Points:
- Mr. Matturri was previously Chief Executive Officer of S&P Dow Jones Indices (“S&P DJI”), a position he held from 2007 until retiring in 2020.
- “I am happy to be able to help SOFR Academy as it helps educate and develop products for the credit markets.
- “Under Alex’s leadership, S&P Dow Jones Indices was transformed into one of the world’s most important index providers.
- These indices work in conjunction with the SOFR and address a concern communicated by a group of American banks.
Retrieved on:
Tuesday, September 12, 2023
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Economics The paper is a feasibility study of a Japanese version of Across-the-Curve Credit Spread Index (JPAXI) and the Financial Condition Credit Spread Index (JPFXI) accounting for specific features of the Japanese corporate bond market.
Key Points:
- The paper is a feasibility study of a Japanese version of Across-the-Curve Credit Spread Index (JPAXI) and the Financial Condition Credit Spread Index (JPFXI) accounting for specific features of the Japanese corporate bond market.
- I am very grateful to Professors Okimoto and Takaoka.”
The Japanese AXI and FXI feasibility study is available for download here and market participants can learn more about Japanese FXI and view related resources here .
- These indices work in conjunction with the Secured Overnight Financing Rate (“SOFR”) and address concerns communicated by a group of American banks.
- The publication of the Japanese feasibility study complements studies for China and Europe .
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Euro Today, SOFR Academy, a financial education and market information provider, welcomed the publication of the paper “EURAXI: a benchmark for Euro credit spreads” by leading academics Professor Rama Cont and Dr Susanna Saroyan of the University of Oxford, England.
Key Points:
- Today, SOFR Academy, a financial education and market information provider, welcomed the publication of the paper “EURAXI: a benchmark for Euro credit spreads” by leading academics Professor Rama Cont and Dr Susanna Saroyan of the University of Oxford, England.
- The authors propose a methodology for constructing EURAXI, a transaction-based credit spread benchmark for Euro interest rates, which considers specific features of Euro-denominated wholesale funding.
- Finally, the paper discusses robustness and representativeness of EURAXI in line with the International Organization of Securities Commissions principles for benchmark design and EU regulation.
- The publication of the EURAXI paper complements the Chinese AXI paper produced by academics at the Tsinghua University PBC School of Finance in Beijing, China.
Retrieved on:
Tuesday, December 6, 2022
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Insurance PwC assessed whether Invesco Indexing has implemented policies, processes, and control activities aligned with the IOSCO Principles.
Key Points:
- PwC assessed whether Invesco Indexing has implemented policies, processes, and control activities aligned with the IOSCO Principles.
- Invesco Indexing LLC is an independent index provider owned by global asset management firm Invesco Ltd (NYSE: IVZ).
- Invesco Indexing was also one of the first third-country benchmark administrators to be approved under the EU Benchmarks Regulation and, since January 2021, the UK Benchmarks Regulation.
- Invesco Indexing LLC is an indirect, wholly owned subsidiary of Invesco Ltd.
SOFR Academy supports SOFR, and near risk-free rates.
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New York University SOFR Academy, Inc. today announced that Alex Edmans has joined the firms Panel of Advisors effective immediately.
Key Points:
- SOFR Academy, Inc. today announced that Alex Edmans has joined the firms Panel of Advisors effective immediately.
- Edmans is Professor of Finance at London Business School where he has taught since 2013.
- Commenting on the appointment, Marcus Burnett, Chief Executive Officer of SOFR Academy, said, Alex is a recognized thought leader in several areas that are important to our firm including corporate finance, responsible business and behavioral finance.
- Professor Edmans said, Im thrilled to join SOFR Academy, in particular due to its commitment to using rigorous academic research to guide real-world problems.
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SOFR ACADEMY Andrew Waisburd, Head of Invesco Indexing, commented, We are pleased to be selected by SOFR Academy to play this important role.
Key Points:
- Andrew Waisburd, Head of Invesco Indexing, commented, We are pleased to be selected by SOFR Academy to play this important role.
- SOFR Academy conducted a Request for Proposal (RFP) in 2021 to identify an index provider for the Across-the-Curve Credit Spread strategy to meet market demand for a robust credit sensitive supplement to SOFR.
- The USD Invesco / SOFR Academy Across-the-Curve Credit Spread Index will be calculated daily and published at 8 AM ET, using the prior days transaction data, on a T+1 basis.
- AXI is a robustly defined forward looking credit spread index that may be used in conjunction with SOFR, CME Term SOFR, simple daily SOFR, SOFR compounded in arrears, or other SOFR variants to form a credit sensitive interest rate.
Retrieved on:
Thursday, January 6, 2022
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Economics SOFR Academy, Inc. today announced that Professor Joel Shapiro has been appointed to the firms Panel of Advisors effective immediately.
Key Points:
- SOFR Academy, Inc. today announced that Professor Joel Shapiro has been appointed to the firms Panel of Advisors effective immediately.
- Shapiro is a tenured Professor of Financial Economics at the Sad Business School, University of Oxford in the United Kingdom, where he has taught since 2009.
- Professor Joel Shapiro said, I am delighted to be joining SOFR Academy.
- The Firms panel of advisors includes academics from Harvard University, the University of California Berkeley, New York University, Oxford University and Tsinghua University, as well as experienced financial services professionals.
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THE SECURED OVERNIGHT FINANCING RATE SOFR Academy, Inc., a digital education and data provider, announced the publication of additional materials regarding the Across-the-Curve Credit Spread Indexes (AXI).
Key Points:
- SOFR Academy, Inc., a digital education and data provider, announced the publication of additional materials regarding the Across-the-Curve Credit Spread Indexes (AXI).
- The additional materials include an AXI Technical White Paper and, with the permission of the Loan Syndications and Trading Association (LSTA), a draft Term SOFR + AXI concept credit agreement.
- The AXI Technical White Paper contains details on AXI construction methodology, Term AXI rates, historical performance, underlying transaction volumes, fallback language and more.
- SOFR Academy reserves all rights in the methodologies and outputs disclosed in this document, the white paper, the updates to the white paper and on SOFR Academys website.
Retrieved on:
Wednesday, August 4, 2021
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THE SECURED OVERNIGHT FINANCING RATE SOFR Academy Inc. , a digital education and data provider, announced that it has recently completed a series of meetings with United States government agencies regarding the Across-the-Curve Credit Spread Index known as AXI.
Key Points:
- SOFR Academy Inc. , a digital education and data provider, announced that it has recently completed a series of meetings with United States government agencies regarding the Across-the-Curve Credit Spread Index known as AXI.
- Marcus Burnett, Chief Executive of SOFR Academy, said, It made sense to invest time with market regulators on this important topic.
- The U.S. Official Sector have said that the same deficiencies exposed with LIBOR must not be replicated in the development of a credit sensitive index or spread.
- It is also operationalizing AXI as a credit spread add-on for SOFR for use in lending and derivative markets.
Retrieved on:
Wednesday, March 31, 2021
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the Secured Overnight Financing Rate SOFR Academy LLC , a leading education technology firm and market data provider, announced that it has reached an exclusive global agreement to calculate and publish the Across-the-Curve Credit Spread Index known as AXI.
Key Points:
- SOFR Academy LLC , a leading education technology firm and market data provider, announced that it has reached an exclusive global agreement to calculate and publish the Across-the-Curve Credit Spread Index known as AXI.
- This agreement to publish AXI will provide an important option for market participants.
- The U.S. Official Sector have said that the same issues associated with LIBOR must not be replicated in the development of a credit sensitive spread.
- Therefore, a credit spread that reflects actual marginal funding costs should also switch its emphasis by tenor.
