NEW YORK, Feb 8 (Bernama-BUSINESS WIRE) — SOFR Academy, Inc., a leading financial education, and market data provider, today announced that the Firm has engaged with Invesco Indexing LLC as the index provider of the Invesco / SOFR Academy Across-the-Curve Credit Spread Index (AXI). Invesco Indexing is a recognized benchmark administrator by both the Central Bank of Ireland and the United Kingdom’s Financial Conduct Authority under EU Benchmark Regulation (BMR).
“This collaboration will ensure that AXI is managed by an index provider that follows the highest industry standards and operates in alignment with the globally agreed and recognized IOSCO Principles for Financial Benchmarks,” said Marcus Burnett, Chief Executive Officer of SOFR Academy. “AXI’s launch will provide market participants with the transparency and certainty needed for new loan contracts to support a smooth transition to a SOFR based lending market in the United States. It will also help banks manage potential funding mismatches and conduct risks. We are delighted to be partnering with Invesco.”