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Usage Restrictions

The entire contents of this site are copyrighted under United States law and protected by worldwide copyright laws and treaty provisions. Materials from the www.bsbywatch.com World Wide Web site may not be copied, distributed, or transmitted in any way without prior written consent of BSBY Watch, as described below. Users of the site may download one copy of any and all materials on the site for personal, non-commercial use provided that they do not modify or alter the materials in any way, nor delete or change any copyright or trademark notice. All materials on this site are provided for lawful purposes only. All BSBY Watch, logos, service marks, slogans, copyrighted designs, or other brand features, including hyperlinks to BSBY Watch site (collectively, “Brand Features”), will be used only as explicitly licensed by BSBY Watch, and only under the terms and conditions and for the purposes described in such License. The other party to the License granted by BSBY Watch is referred to as the “Licensee.”

Linking from www.bsbywatch.com to a non-BSBY Watch Web Site

BSBY Watch will consider link requests to non-BSBY Watch Websites upon request but reserves the right to refuse linking for any reason. You may request that a link be placed on www.bsbywatch.com by contacting BSBY Watch at info@bsbywatch.com.

Linking to www.bsbywatch.com

Websites that wish to link to BSBY Watch Website may include a link to www.bsbywatch.com. However, deep linking to this domain is not allowed without BSBY Watch written consent.

Placing Electronic Copies of BSBY Watch Brand Features on a non-BSBY Watch Web Site

All specific uses of any BSBY Watch Brand Features (including BSBY Watch Logos, BSBY Watch images, BSBY Watch advertising) must be approved in advance in writing by BSBY Watch. You may request approval by contacting BSBY Watch at info@bsbywatch.com. A complete sample of each proposed use is required. BSBY Watch will typically review the request and respond within ten (10) business days but is under no obligation to respond. You may not use Brand Features unless and until BSBY Watch has granted its specific approval and all conditions of such approval have been fulfilled by the Licensee.

Framing Pages on www.bsbywatch.com

The framing of pages is not allowed on www.bsbywatch.com without prior written approval by BSBY Watch. You may request approval by contacting BSBY Watch at info@bsbywatch.com.

Placing Electronic Copies of BSBY WatchWeb Site Content on a non-BSBY Watch Web Site

Linking to www.bsbywatch.com is permissible; the re-publishing of electronic copies of BSBY Watch content found on the BSBY Watch Website to a non-BSBY Watch Website must be approved in writing in advance by BSBY Watch. You may request approval by contacting BSBY Watch info@bsbywatch.com. A complete sample of each proposed use is required. BSBY Watch will typically review the request and respond within ten (10) business days but is under no obligation to respond. You may not use Brand Features unless and until BSBY Watch has granted its specific approval and any and all conditions of such approval have been fulfilled by the Licensee.

Trademarks and Patent

Logos and service marks of BSBY Watch and/or its affiliates include Eris, Eris PAI, Eris Methodology and Eris Pricing Engine.

The CME Group name and logo are the registered trademarks of CME Group, Inc.

The ICE name and logo are registered trademarks of Intercontinental Exchange, Inc.

Certain elements of the contract design and pricing construct are covered by U.S. Patent No. 9,747,641. Other patents-pending.

Copyright

Except as otherwise noted, the content of www.bsbywatch.com, including but not limited to text, graphics and icons, are copyrighted materials of BSBY Watch and contain service marks and trade names of the BSBY Watch and/or its affiliates and licensors. ALL RIGHTS RESERVED. You may use the content to learn about, evaluate or acquire services or products of the BSBY Watch. You may not copy or display for redistribution to third parties for commercial purposes any portion Except as otherwise noted, the content of www.bsbywatch.com, including but not limited to text, graphics and icons, are copyrighted materials of BSBY Watch and contain service marks and trade names of the BSBY Watch and/or its affiliates and licensors. ALL RIGHTS RESERVED. You may use the content to learn about, evaluate or acquire services or products of the BSBY Watch. You may not copy or display for redistribution to third parties for commercial purposes any portion of the content without the prior written permission of BSBY Watch.

© 2022 BSBY Watch. All rights reserved.

Notice

While BSBY Watch strives to provide accurate and timely information, there may be inadvertent inaccuracies, errors and omissions, for which we apologize. We reserve the right to make changes and corrections at any time, without notice.

The content is provided “AS IS,” “AS AVAILABLE.” BSBY Watch does not warrant the accuracy or completeness of the information, text, graphics, links, or other items contained on the site, and BSBY Watch expressly disclaims liability for errors or omissions in these materials. BSBY Watch makes no commitment to update the information contained on the site.

BSBY Watch expressly disclaims all liability for the use or interpretation by others of information contained in www.bsbywatch.com. Decisions based on information contained on www.bsbywatch.com are the sole responsibility of the visitor, and in exchange for using www.bsbywatch.com the visitor agrees to hold the BSBY Watch and its affiliates and licensors harmless against any claims for damages arising from any decisions that the visitor makes based on such information. Nothing contained on www.bsbywatch.com constitutes investment advice, nor does it constitute the solicitation of the purchase or sale of any futures or options.

Submissions to the BSBY Watch Web Site and Affiliated Sites

Any information, including but not limited to remarks, suggestions, ideas, graphics or other submissions, communicated to BSBY Watch through this site is the exclusive property of the BSBY Watch. BSBY Watch is entitled to use any information submitted for any purpose without restriction or compensation to the person sending the submission. The user acknowledges the originality of any submission communicated to BSBY Watch and accepts responsibility for its accuracy, appropriateness, and legality.

Liability Restrictions

BSBY Watch is not responsible for technical, hardware or software failures of any kind; lost or unavailable network connections; incomplete, garbled, or delayed computer transmissions. Under no circumstances will BSBY Watch, or its suppliers be liable for any damages or injury that results from the use of the materials on this site. Some jurisdictions prohibit the exclusion or limitation of liability for consequential or incidental damages, in which case the above limitation may not apply to you.

The materials on this site are provided “as is” and without warranties of any kind to the fullest extent permissible pursuant to applicable laws.

The site www.bsbywatch.com and its related domains link to other companies’ sites that are not maintained by BSBY Watch. BSBY Watch does not endorse those sites and is not responsible for the content of such other sites.

Enforcement of Terms and Conditions

These terms and conditions are governed and interpreted pursuant to the laws of the State of Illinois, United States of America, notwithstanding any principles of conflicts of law. If any part of these terms and conditions is unlawful, void or unenforceable, that part will be deemed severable and will not affect the validity and enforceability of remaining provisions. BSBY Watch can revise these terms and conditions at any time by updating this site.

© 2022 BSBY Watch. All rights reserved.

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BSBY Swaps ADV: Notional value traded of bilateral and cleared interest rate swaps referencing Bloomberg Short-Term Bank Yield Index divided by the number of trading days in each month (i.e. Average Daily Volume)

CME BSBY Futures ADV: Futures contracts ($1 million notional) traded of Three-Month Bloomberg Short-Term Bank Yield Index (BSBY) Futures on CME divided by the number of trading days in each month (i.e. Average Daily Volume)

Source: Clarus Financial Technology data

3M Libor*: Synthetic 3-Month USD Libor (US0003M Index)

For more information: ICE LIBOR (theice.com)

3M BSBY: 3-Month Short-Term Bank Yield Index (BSBY 3M Index)

O/N SOFR: Secured Overnight Financing Rate (SOFR Index)

3M Term SOFR: 3-Month CME Term SOFR (SR3M Index)