TraditionDATA Integrates AMERIBOR Benchmark as LIBOR End Nears
- TraditionDATA will publish spreads between AMERIBOR, SOFR and the EFFR from this month.

TraditionDATA is the data arm of Compagnie Financière Tradition (CFT), which also operates the Japanese retail brokerage, Gaitame. Following the integration, the company will publish spreads between AMERIBOR, Secured Overnight Financing Rate (SOFR) and the Effective Fed Funds Rate (EFFR).
These spreads will be published via the data company’s own feeds, as well as through a selection of vendors, which includes both Refinitiv and Bloomberg. The publication is set to commence early this month, the company said in a statement today.
This announcement coincides with the phasing out of the historic London Interbank Offered Rate (LIBOR) benchmark, which is set to cease at the end of 2021.
In the United States, the focus has been on the Secured Overnight Financing Rate (SOFR). This is a benchmark interest rate for dollar-denominated derivatives and is currently expected to be the replacement of LIBOR.
TraditionDATA: AMERIBOR Has What SOFR Lacks
However, according to TraditionDATA, SOFR is a risk-free rate and does not have the credit component like the LIBOR benchmark. The AMERIBOR benchmark, on the other hand, is a credit-sensitive interest rate benchmark.
Commenting on the inclusion of the AMERIBOR benchmark, Jeffrey Maron, TraditionDATA’s Global Head of Product said in the statement: “Properly managing the transition away from LIBOR is integral to the financial markets and the economy. Tradition is positioned at the heart of these markets giving us the opportunity to provide data and information to those who need it.

“Our inclusion of AMERIBOR, which contains a credit component, unlike SOFR, brings another dimension to our global set of RFR/ARR data solutions. It demonstrates that we are looking at this market shift from every perspective and are representing a broad set of participants including corporate treasurers, regional banks, asset managers and systemically important institutions…”
In the United Kingdom, the Financial Conduct Authority (FCA) has told market participants that they should consider switching from LIBOR Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of SwapsCommon types of swaps include interest rate swaps, commodity swaps, currency swaps, and debt-equity swaps.Interest rate swaps are used to hedge against interest rate risk and involve cash flows exchanged between two parties that are comprised of a notional principal amount. A financial intermediary or a bank is used for swaps but these are dependent upon both party’s comparative advantage.Commodity swaps use the exchange of a floating commodity price, with a predetermined set price for a specific period while crude oil is the most heavily swapped commodity. Meanwhile, currency swaps involve the exchange of principal payments of debt and interest that are denominated in different currencies. An example of a currency swap would be when the U.S. Federal Reserve conducted a swap with central banks of Europe during the 2010 European financial crisis.Used as a way to reallocate capital structure or refinance debt, a debt-equity swap deals with the exchange of debt for equity. For instance, a public traded company would issue bonds for stocks. Swaps are not exchange-traded instruments but rather customized contracts traded in an over-the-counter market between parties. While the swaps industry is primarily used by firms and financial institutions, retail traders have been known to participate although there is always a risk of counterparty’s defaulting on agreed-upon swaps. Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of SwapsCommon types of swaps include interest rate swaps, commodity swaps, currency swaps, and debt-equity swaps.Interest rate swaps are used to hedge against interest rate risk and involve cash flows exchanged between two parties that are comprised of a notional principal amount. A financial intermediary or a bank is used for swaps but these are dependent upon both party’s comparative advantage.Commodity swaps use the exchange of a floating commodity price, with a predetermined set price for a specific period while crude oil is the most heavily swapped commodity. Meanwhile, currency swaps involve the exchange of principal payments of debt and interest that are denominated in different currencies. An example of a currency swap would be when the U.S. Federal Reserve conducted a swap with central banks of Europe during the 2010 European financial crisis.Used as a way to reallocate capital structure or refinance debt, a debt-equity swap deals with the exchange of debt for equity. For instance, a public traded company would issue bonds for stocks. Swaps are not exchange-traded instruments but rather customized contracts traded in an over-the-counter market between parties. While the swaps industry is primarily used by firms and financial institutions, retail traders have been known to participate although there is always a risk of counterparty’s defaulting on agreed-upon swaps. Read this Term to SONIA swaps for new positions, where possible.
TraditionDATA is the data arm of Compagnie Financière Tradition (CFT), which also operates the Japanese retail brokerage, Gaitame. Following the integration, the company will publish spreads between AMERIBOR, Secured Overnight Financing Rate (SOFR) and the Effective Fed Funds Rate (EFFR).
These spreads will be published via the data company’s own feeds, as well as through a selection of vendors, which includes both Refinitiv and Bloomberg. The publication is set to commence early this month, the company said in a statement today.
This announcement coincides with the phasing out of the historic London Interbank Offered Rate (LIBOR) benchmark, which is set to cease at the end of 2021.
In the United States, the focus has been on the Secured Overnight Financing Rate (SOFR). This is a benchmark interest rate for dollar-denominated derivatives and is currently expected to be the replacement of LIBOR.
TraditionDATA: AMERIBOR Has What SOFR Lacks
However, according to TraditionDATA, SOFR is a risk-free rate and does not have the credit component like the LIBOR benchmark. The AMERIBOR benchmark, on the other hand, is a credit-sensitive interest rate benchmark.
Commenting on the inclusion of the AMERIBOR benchmark, Jeffrey Maron, TraditionDATA’s Global Head of Product said in the statement: “Properly managing the transition away from LIBOR is integral to the financial markets and the economy. Tradition is positioned at the heart of these markets giving us the opportunity to provide data and information to those who need it.

“Our inclusion of AMERIBOR, which contains a credit component, unlike SOFR, brings another dimension to our global set of RFR/ARR data solutions. It demonstrates that we are looking at this market shift from every perspective and are representing a broad set of participants including corporate treasurers, regional banks, asset managers and systemically important institutions…”
In the United Kingdom, the Financial Conduct Authority (FCA) has told market participants that they should consider switching from LIBOR Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of SwapsCommon types of swaps include interest rate swaps, commodity swaps, currency swaps, and debt-equity swaps.Interest rate swaps are used to hedge against interest rate risk and involve cash flows exchanged between two parties that are comprised of a notional principal amount. A financial intermediary or a bank is used for swaps but these are dependent upon both party’s comparative advantage.Commodity swaps use the exchange of a floating commodity price, with a predetermined set price for a specific period while crude oil is the most heavily swapped commodity. Meanwhile, currency swaps involve the exchange of principal payments of debt and interest that are denominated in different currencies. An example of a currency swap would be when the U.S. Federal Reserve conducted a swap with central banks of Europe during the 2010 European financial crisis.Used as a way to reallocate capital structure or refinance debt, a debt-equity swap deals with the exchange of debt for equity. For instance, a public traded company would issue bonds for stocks. Swaps are not exchange-traded instruments but rather customized contracts traded in an over-the-counter market between parties. While the swaps industry is primarily used by firms and financial institutions, retail traders have been known to participate although there is always a risk of counterparty’s defaulting on agreed-upon swaps. Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of SwapsCommon types of swaps include interest rate swaps, commodity swaps, currency swaps, and debt-equity swaps.Interest rate swaps are used to hedge against interest rate risk and involve cash flows exchanged between two parties that are comprised of a notional principal amount. A financial intermediary or a bank is used for swaps but these are dependent upon both party’s comparative advantage.Commodity swaps use the exchange of a floating commodity price, with a predetermined set price for a specific period while crude oil is the most heavily swapped commodity. Meanwhile, currency swaps involve the exchange of principal payments of debt and interest that are denominated in different currencies. An example of a currency swap would be when the U.S. Federal Reserve conducted a swap with central banks of Europe during the 2010 European financial crisis.Used as a way to reallocate capital structure or refinance debt, a debt-equity swap deals with the exchange of debt for equity. For instance, a public traded company would issue bonds for stocks. Swaps are not exchange-traded instruments but rather customized contracts traded in an over-the-counter market between parties. While the swaps industry is primarily used by firms and financial institutions, retail traders have been known to participate although there is always a risk of counterparty’s defaulting on agreed-upon swaps. Read this Term to SONIA swaps for new positions, where possible.