SOFR: Life after LIBOR (Sold Out) Waitlist Available

SOFR: The what, who, why, when of your new funding benchmark rate.
Hosted by: Education Advisory Group

LIBOR (London Inter-bank Offered Rate) has been described as the world’s most important number. It’s the benchmark rate for everything from public and private loans, mortgages and student loans as well as interest rate derivative products. However after it was found to have been manipulated during the financial crisis there has been a search for an alternative along with a path to phase it out. SOFR (Secured Overnight Financing Rate) has been put forth as a replacement. But how does the US financial system go about replacing what is estimated to be a benchmark rate on more than $350 trillion in financial contracts including $200 trillion in interest rate derivative contracts? New York Fed President John Williams recently said in a speech, “Some say only two things in life are guaranteed: death and taxes. But I say there are actually three: death, taxes and the end of LIBOR.” Please join us at this event where are our diverse panel will discuss this topic. Our panel moderator Meredith Coffey, executive vice president of the Loan Syndications and Trading Association (LSTA), will give a brief overview about LIBOR and SOFR. Then our panel will bring you up to speed on how we got here, where we are in the process, what SOFR products are being developed, potential market impacts, and what is yet to be addressed between now and yearend 2021 when Libor is planned to be phased out. 

Feel like you need a little bit more information before attending? The Alternative Reference Rates Committee website is a helpful resource:

Opening Remarks and Moderator: Meredith Coffey, Executive Vice President, Loan Syndications and Trading Association (LSTA)

Brian Battle: Director, Performance Trust 
Agha Mirza: Managing Director and Global Head of Interest Rate Products, CME Group
Jerome Schneider: Managing Director, PIMCO

Members - $45 or FREE with function ticket 
Student Members - $10
Nonmembers - $65
(member pricing underwritten by CFA Society Chicago)

*Limited sponsorships available, contact Kim Augustyn at

CFA Institute Qualified Activity: Eligible for 1.5 credit hours

Attire: Business Casual

Menu: Hors d’oeuvres and refreshments

Registration: Online

4:00 pm - 4:30 pm: Registration & Networking
4:30 pm - 4:50 pm: Opening Remarks
4:50 pm - 6:00 pm: Panel Discussion

*Please note distribution of presentation slides is at the discretion of the speaker and may not be available for this event


Meredith Coffey is executive vice president of the Loan Syndications and Trading Association (LSTA), and runs Research Department and co-heads the LSTA’s regulatory and CLO efforts, which help facilitate continued availability of credit and the efficiency of the loan market. In addition, Coffey heads efforts to analyze current and anticipated loan market developments, helping the LSTA build strategy and improve market efficiency, and providing commentary through weekly newsletters, periodic conferences and webcasts. Coffey is on the Alternative Reference Rates Committee (ARRC), which is working to transition from LIBOR to a successor rate; she co-chairs the ARRC’s Business Loans Working Group and the Loans Operations Sub-Group. She and the analyst team also engage market participants, press and regulators on issues and developments in the global loan market. Coffey has published analysis on the syndicated loan market in numerous books and periodicals, presents frequently, and has testified several times before Congress on issues pertaining to the loan and CLO markets. Prior to joining the LSTA, Coffey was senior vice president and director of analysis focusing on the loan and adjacent markets for Thomson Reuters LPC, working in and running loan research for 15 years. Coffey has a B.A. in economics from Swarthmore College and a graduate degree in economics from New York University.


Brian Battle
is recognized nationwide as a market expert who provides valuable insight on issues related to liability management, mortgage securities, general market and taxable municipal bonds. His 30 years of market experience in analyzing, underwriting and trading has proven to be a tremendous asset for the company as well as the industry.

As a frequent on-air commentator for CNBC, Fox Business News, National Public Radio, and Bloomberg TV, Battle represents Performance Trust as one of its leading market experts.

Agha Mirza
serves as CME Group’s managing director and global head of Interest Rate Products. He is responsible for managing CME Group’s Interest Rate business strategy, and he focuses on growing volume and revenue through client-driven new product development, product extensions and electronic trading optimization. In 2015, Mirza was appointed to the Alternative Reference Rate Committee, sponsored by the Board of Governors of the Federal Reserve. Mirza also serves on CFTC’s MRAC Interest Rate Benchmark Reform Subcommittee. Before joining the company in 2013, Mirza served as managing director and head of the Canadian Rates business at Citigroup, where he spent 17 years as an interest rates trader and trading manager. Mirza has taught the MBA class “Rethinking Risk Management” at Insead Business School. He holds both a Master of Science degree and a Bachelor of Science degree from MIT.

Jerome Schneider
is a managing director in the Newport Beach office and head of short-term portfolio management and funding. Morningstar named him Fixed-Income Fund Manager of the Year (U.S.) for 2015. Prior to joining PIMCO in 2008, Schneider was a senior managing director with Bear Stearns. There he most recently specialized in credit and mortgage-related funding transactions and helped develop one of the first "repo" conduit financing companies. Additionally, during his tenure at Bear Stearns he held various positions on the municipal and fixed income derivatives trading desks. He has 24 years of investment experience and holds an undergraduate degree in economics and international relations from the University of Pennsylvania and an MBA from the Stern School of Business at New York University.

*Special Notes Regarding Fees:
Regular, Candidate, and Affiliate Members may apply function tickets as payment for Nonmember or Student Member. Credit card required to guarantee ALL reservations except for reservations using Function Tickets. Day-of-event registrations accepted on-site only if applicable and space available. There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, January 10th.

Passport Program
Members of any CFA society may attend at the CFA Society Chicago member rate. Please call the CFA Society Chicago office at 312-251-1301 to register. If you are only a member of CFA Institute, you do not qualify for the Society member rate.

CFA Institute CE Qualified Activity
This program qualifies for credit under the guidelines for the CFA Institute Professional Development Program.

1/15/2020 4:00 PM - 6:00 PM
Renaissance Chicago Downtown Hotel One West Wacker Dr. Chicago, IL UNITED STATES


Wednesday, 15 January 2020

4:00 PM - 6:00 PM
1/15/2020 4:00 PM

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