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Notice
ASX is targeting the launch of the Secured Overnight Funding Index of Australia (SOFIA) - a reference rate based on GC1 overnight repo transactions - during 2026.
Since October 2023, ASX has been publishing a Beta version of SOFIA, with a further version published side by side since June 2024. During this phase, rates and eligible volumes have been published weekly in arrears to allow industry participants to assess the methodology and framework and provide feedback on the design of the reference rate to ensure it is fit for purpose upon launch.
The SOFIA – Draft Methodology and Conventions available here, has been created to provide market participants, regulators and interested parties with a detailed overview of the final design, methodology and conventions for SOFIA. The document has been prepared following:
· Extensive industry and regulatory engagement
· An independent academic review commissioned by the Reserve Bank of Australia (RBA)
· Industry review and feedback provided on the Beta versions of SOFIA
The document also contains an initial self-assessment of SOFIA vs the IOSCO Principles for Financial Benchmarks completed by ASX Benchmarks.
The SOFIA Draft Methodology and Conventions is available for industry comment until 30 January 2026.
What do I need to do by when?
Provide feedback on the SOFIA – Draft Methodology and Conventions to Benchmarks@asx.com.au by Friday, 30 January 2026
Need more information?
Issued by
Allan McGregor, Head of Rates & Benchmarks, ASX
Contact information
+61 (02) 9227 0814
benchmarks@asx.com.au