Refinitiv to cease publication of TRYFIX
Refinitiv will cease publication of TRYFIX, an index that measures the Turkish Lira implied interest rate, in April 2023.
TRYFIX, an index that measures the Turkish Lira implied interest rate, is used by a small number of firms in legacy contracts. The rate is published daily in overnight, 1-month, 3-month, 6-month and 12-month settings and is calculated using input data comprising market data from four brokers as well as other parameters.
Prior to issuing the cessation notice for TRYFIX Refinitiv requested industry feedback via a consultation paper. Refinitiv would like to thank those who responded.
Following the publication of TRYFIX on 28 April 2023 the page <TRYFIX> will display the final published rates and the notice “TRYFIX has now ceased. Users may want to consider using an alternative rate.” The other RICs will display the final published rates without the notice. Three months after TRYFIX cessation the RICs and pages shown in the table below will be removed from Refinitiv products.
Refinitiv will not publish a fallback for TRYFIX after 28 April 2023.
Users of TRYFIX should take into account this cessation notice and ensure their contractual and other arrangements linked to the rate contain appropriate and robust fallback plans or other arrangements to address the cessation.