Refinitiv Announces the Launch of New Version of Tokyo Swap Rate

Refinitiv, a leading financial markets data and infrastructure provider, announced that it has launched Tokyo Swap Rate (for swaps referencing TONA) – a new version of Tokyo Swap Rate, to facilitate industry transition from LIBOR.

On March 5, 2021, the Financial Conduct Authority (FCA), the regulator of LIBOR, announced that all Japanese Yen LIBOR settings, would cease to be published in their current form immediately following 31 December 2021.

Tokyo Swap Rate (for swaps referencing TONA) is accessible on Refinitiv products such as Workspace, Eikon, DataScope and Refinitiv Real-Time. Firms can immediately commence using the benchmark in financial contracts and production systems.

“As the global financial markets migrate away from LIBOR, the launch of our Tokyo Swap Rate (for swaps referencing TONA) serves as a critical step to facilitate this transition to the new market convention,”Jacob Rank-Broadley, Head of LIBOR Transition, Benchmarks & Indices at LSEG.

Earlier, Refinitiv announced that its Environment, Social and Governance (ESG) data will be incorporated into Borsa Istanbul’s Sustainability Index​, which was launched in 2014 and currently covers 58 constituents in Turkey.