What happened
The ASX announced that the Secured Overnight Funding Index Australia (SOFIA) is scheduled to go live on 28 September 2026. SOFIA measures the cost of overnight funding secured against high-quality Australian dollar government securities, settling via Austraclear. It complements existing reference rates such as BBSW and AONIA.
Why it matters here
For institutional and retail debt market participants, SOFIA provides greater transparency and pricing accuracy in overnight repo and secured funding markets. As global benchmark standards shift toward transaction-based risk-free reference rates, Australian investors benefit from enhanced risk management mechanisms and clearer liquidity measures across local fixed income instruments.
What to watch
Track the official launch on 28 September 2026 and market adoption across short-term debt securities and Australian repo market transactions.
Source
asx.com.au