Blockchain Board of Derivatives combines speed of centralisation with security of decentralisation.
Banks get an aggregated view of trading across electronic and voice.
There will be legal uncertainty if there is no clarity on the UK-EU relationship post-Brexit.
The evaluation could provide a basis for fine-tuning post-crisis reforms.
The launch follows the introduction of Sonia futures.
Firms have estimated the transition will cost $200m.
Firm adds reference rates intended as successors to benchmark.
ETFs remain in limbo while forwards reach a milestone.
It's more than shoe-horning into an equities model, Fidessa's Chris Monnery writes.