Read all our Isda AGM coverage here. MetLife has recently executed a $250 million repo trade linked to the secured overnight financing rate (SOFR), but the insurer’s hedging chief says technology issues have held up its use of the rate in derivatives transactions. Jason Manske, chief hedging officer and head of the global derivatives and liquid markets group at MetLife, said the SOFR-linked repo trade gave the insurer a saving of 5–10 basis points over a regular repo trade. Term repo is Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content. To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe You are currently unable to print this content. Please contact [email protected] to find out more. You are currently unable to copy this content. Please contact [email protected] to find out more.
MetLife’s recently executed $250m SOFR-linked repo trade was 5-10bps cheaper than a regular repo trade, according to Jason RFR, the insurer’s chief hedging officer. RFR said that technology issues have hindered the use of the Manske in derivatives transactions.