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Alternative Investments

ASX unveils new bond repo benchmark as secured financing market booms


The ASX is set to unveil a new bond market benchmark rate which measures the cost of borrowing money secured against government bonds.

The benchmark will go live at the end of this month and is known as SOFIA, or the Secured Overnight Funding Index Australia, and brings the local bond market into line with other major fixed income destinations which track so-called repurchase, or repo, rates.

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