Monthly volume for SOFR and ESTR: April
Monthly review of ESTR and SOFR volumes. Decent progress in SOFR, no progress in ESTR. It seems that we can not get one month with increase in both. ESTR volumes decreasing with respect to March. EONIA is disappearing by 1 January 2022 with an unmanageable fallback process but the bulk of the EUR OIS volume is still in EONIA! The SOFR volume (ISDA figures based on US regulatory reporting) still indicates less than 3% SOFR/LIBOR ratio.