What is TORF? 

Tokyo Term Risk Free Rate (TORF) is a Japanese Yen interest rate benchmark based on the uncollateralized overnight call rate, which involves almost no credit risk for financial institutions. It calculates the interest rate from derivative transaction data for a period of one month or three months. Like existing interest rate benchmarks such as LIBOR, the rate is fixed at the start of the interest rate calculation period.

Who we are? 

Benchmark Administrator

QUICK Benchmarks Inc. (QBS) is a calculating and publishing entity of TORF (Tokyo Term Risk Free Rate). QBS will maintain the transparency of TORF calculation and operational soundness and comply with Principles for Financial Benchmarks set forth by IOSCO, International Organization of Securities Commissions. (https://www.torf.co.jp/en/)

Exclusive License Distributor

QUICK Corp. (QUICK) is a leading information provider in Japan that independently gathers, surveys, and analyzes information and data latent in markets. It then evaluates such material with a specialist's eye, transforming it into knowledge that brings true value to our customers. QUICK provides accurate price information and the unique, credible, and trusted data required for market and corporate analysis. In addition, QUICK wholly owns QBS. (https://corporate.quick.co.jp/en/)