On January 30, 2025, H. Rodgin Cohen (Sullivan & Cromwell) hosted an industry discussion regarding the implementation of IOSCO-aligned credit-spread reference benchmarks AXI and FXI which work with SOFR.
On January 30, 2025, H. Rodgin Cohen (Senior Chair of Sullivan & Cromwell LLP) hosted an industry discussion regarding the implementation of AXI & FXI which was attended by leading market participants from both the sellside and buyside. The engagement from such a diverse group of market participants underscored the importance of developing robust, IOSCO-aligned credit-spread benchmarks for SOFR. During the discussion, it was noted that AXI & FXI provide a differentiated approach to incorporating credit sensitivity into U.S. financial markets, enhancing market efficiency, transparency, and stability. Market Participants are encouraged to continue to engage on this initiative and share any feedback on industry adoption, potential use cases, and any remaining obstacles. Your insights are invaluable as we carefully work toward broader market implementation.
Download the Agenda and Meeting Minutes for the January 30, 2025 meeting.
To request an invitation to the next AXI & FXI industry discussion or share feedback please email [email protected].
