CME Group proposes conversion of Eurodollar futures and options contracts into corresponding SOFR contracts CME Group proposes conversion of Eurodollar futures and options contracts into corresponding SOFR contracts Submitted 06|09|2022 - 1:12pm CME Group is proposing to convert Eurodollar futures and options open interest into corresponding SOFR contracts on 14 April, 2023, under the company’s previously adopted fallbacks plan. Eurodollar futures and options contracts that expire before 30 June, 2023 are excluded from this proposal and will continue to trade until their expiry. In the month of August, CME Group reported record average daily volume of nearly 2.5 million contracts and record open interest of approximately 19 million contracts for SOFR futures and options contracts. SOFR options had record volume and open interest in August and SOFR futures had record open interest during the same period. Additional highlights include: Ahead of the final conversion under fallbacks, liquid standard and reduced-tick Inter-Commodity Spread (ICS) instruments are available to facilitate the voluntary conversion of Eurodollar open interest via the SED Spread for futures and the LS Spread for options.