The eurodollar options market was overtaken in size by the product created to replace it, options on SOFR, a new short-term lending benchmark rate.
Open interest in SOFR options -- the number of contracts in which traders have positions -- totaled 20.5 million as of Tuesday’s close, a record high, according to
Eurodollar and SOFR futures and options on them are the main vehicle for wagers related to Federal Reserve policy expectations and bond-market volatility.
Eurodollars -- futures on the London Interbank ...
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