ISDA 's quarterly interest rate benchmark review showed volume in IRDs referencing SOFR , SONIA , SARON and TONA was $ 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 . Total trade volume increased by 34.7 % to $ 2.3tn , trade count at 3,704 was 39.5 % higher . ISDA uses cookies to enhance your experience on our website. SOFR traded notional increased by 25.4.% totalling $ 106.3bn but remained small at just 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 $ 1 in Q2 . Relevant document : Interest Rate Benchmarks Review Q3 2019 and year to 30-Sept-19 ~ ISDA ~ October 2019
ISDA 's quarterly interest rate benchmark review showed volume in IRDs referencing SOFR , SONIA , SARON and TONA was $ 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 . Total trade volume increased by 34.7 % to $ 2.3tn , trade count at 3,704 was 39.5 % higher . SOFR traded notional increased by 25.4.% totalling $ 106.3bn but remained small at just 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 $ 1 in Q2 . Relevant document : Interest Rate Benchmarks Review Q3 2019 and year to 30-Sept-19 ~ ISDA ~ October 2019