Japan Markets ViewTORF is designated as “Specified Financial Benchmark” by FSA

QUICK is pleased to inform that QUICK Benchmarks Inc.(QBS) is designated as a “Specified Financial Benchmark Administrator” under the Financial Instruments and Exchange Act on 27 April. Tokyo Term Risk Free Rate (TORF), calculated by QBS, is defined as “Specific Financial Benchmark” and subject to regulation that may have a significant impact on capital markets if its reliability is to decline as well as Tokyo InterBank Offered Rate (TIBOR).

 

QBS commented in its press release, “We will comply with the principles set forth by International Organization of Securities Commissions (IOSCO) and keep the transparency of its calculation and operational soundness and contribute to the sound growth and development of financial and capital markets.” TORF is one of the interest benchmarks for the Japanese yen, an alternative to the London Interbank Offered Rate (LIBOR), which will cease to be published at the end of 2021. QBS started to calculate and publish the production rates for actual trading from Monday April 26 2021.

 

About TORF
https://corporate.quick.co.jp/en/torf/

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