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ISDA's quarterly interest rate benchmark review showed volume in IRDs referencing SOFR, SONIA, SARON and TONA totalled $2.5tn in Q3, and accounted for 3.6% of total IRD traded notional, up from $1.8tn in Q2. The trade count increased to 4,342 from 2,934 in Q2. In the first quarter of this year, there were 1,686 transactions involving more than $US1 trillion worth of notional derivatives on a daily basis. SOFR traded notional increased by 25.4.% totalling $106.3bn but remained small at just 0.2% of total IRD traded. IBOR-linked IRD traded notional totalled $40.3tn during Q3, accounting for 58.4% of total IRD notional traded compared with $41.7tn in Q2. Relevant document: Interest Rate Benchmarks Review Q3 2019 and year to 30-Sept-19 ~ ISDA ~ October 2019