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Notice
ASX is targeting the launch of the Secured Overnight Funding Index of Australia (SOFIA) - a reference rate based on GC1 overnight repo transactions on 28 September 2026.
Since October 2023, ASX has been publishing a Beta version of SOFIA, with a further version published side by side since June 2024. During this phase, rates and eligible volumes have been published weekly in arrears to allow industry participants to assess the methodology and framework and provide feedback on the design of the reference rate to ensure it is fit for purpose upon launch.
The SOFIA –Methodology and Conventions (Final) available here, has been created to provide market participants, regulators and interested parties with a detailed overview of the final design, methodology and conventions for SOFIA. The document has been prepared following:
· Extensive industry and regulatory engagement.
· An independent academic review commissioned by the Reserve Bank of Australia (RBA).
· Industry review and feedback provided on the Beta versions of SOFIA, and the draft version of the Methodology and Conventions.
A Response to Consultation document available here, has also been made available to directly address industry feedback and illustrate where changes to the Methodology and Conventions were made following the consultation process.
What do I need to do by when?
Note the final version and contact ASX if you have any questions.
Need more information?
Issued by
Jaya James, Product Owner, Benchmarks - ASX