CME Group has posted an advisory notice to clearing member firms and back office managers.

CME advises it will no longer support the clearing of CHF, GBP, and JPY LIBOR Forward Rate Agreements (FRAs) in its New Release environment beginning 18 August 2021. This change is to prepare for the cessation of the respective LIBOR fixing rates on 31 December 2021.

CME will continue to clear FRAs in the New Release environment in all other currencies that are currently supported.

Impacted Product Scope:

• FRAs with floating rate options referencing: CHF-LIBOR-BBA, GBP-LIBOR-BBA, or JPY-LIBOR-BBA
• Existing cleared trades in the New Release environment will be terminated by 18 August 2021

CME will remove clearing support for CHF, GBP, and JPY LIBOR Forward Rate Agreements (FRAs) in its Production environment on 13 September 2021.

For questions, please contact the CME Client Services Team at onboarding_clearing@cmegroup.com or +1 312 338 7112.