CHICAGO and LONDON, Dec. 4, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced it will provide CME Term €STR Reference Rates to meet client demand for a term rate anchored in €STR markets.
Published in beta today, the rates are based on CME Group's liquid €STR futures and OTC swap market data. They are published in 1-month, 3-month, 6-month and 12-month tenors.
"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."
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