The LSTA hosted CME Group in a discussion of exactly how CME Term SOFR was built, how it works, its robustness and contingency planning. Topics included: 

  • CME Term SOFR vs. other potential replacement rates.
  • How is CME Term SOFR constructed?
  • What mechanisms are in place to ensure Term SOFR is robust and reliable in a variety of market conditions?
  • How does CME Benchmark Administration guarantee independent oversight and publication of rates?
  • What is market fallback language if CME Term SOFR were not available?


Thursday, February 3, 2022
11AM to 12:15PM (ET) | Webcast Only
Presentation & Replay | Now Available | Scroll Down to View


  • Meredith Coffey, EVP, Head of Research, Co-Head of Public Policy, LSTA
  • Gavin Lee, CEO of CME Group Benchmark Admin Limited, CME Group
  • Mark Rogerson, ED, EMEA Head of Interest Rate Products, CME Group
  • Tess Virmani, EVP, Associate General Counsel, Head of ESG, LSTA
Getting Under the Hood of CME Term SOFR_Understanding How It Works (Feb 3 2022)

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