As of 13 December 2021, we are changing the interbank benchmark rate used to calculate overnight interest. This is due to a number of current Interbank Offered Rates ceasing to exist, including London Interbank Offered Rate (LIBOR).
What is replacing LIBOR?
We will be replacing the current LIBOR benchmark with new benchmarks shown below. Any overnight interest calculations will be based on the new benchmark rates with spread adjustments and an administration fee applied as of 13 December 2021.
We do not expect any significant change to the overnight holding costs regardless of if you are long or short. We do encourage you to do your own independent research.
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