Futures trading began on Aug. 16 for the American Interbank Offered Rate, a potential rival to the Structured Overnight Financing Rate as an index to be used with, among other things, adjustable-rate mortgages. CBOE began trading in Ameribor ##ea on 1 August . The alternative benchmark rate is market - based borrowing , and is the daily , volume - weighted average interest rate of overnight unsecured loans traded on the AFX .
CBOE began trading in Ameribor ##ea on 1 August . The alternative benchmark rate is market - based borrowing , and is the daily , volume - weighted average interest rate of overnight unsecured loans traded on the AFX .