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SARON - the new Swiss franc benchmark

SIX is the Benchmark Administrator of SARON. The SARON represents the overnight interest rate of the secured funding market for Swiss franc (CHF). It is based on transactions and quotes posted in the Swiss repo market, a pivotal part of the Swiss Value Chain.

Internationally, there is a consensus that financial benchmarks need to be resilient and reliable. Repo markets, in their role as the backbone of the financial industry and central bank activity, are the obvious choice. They are liquid, highly regulated and of high integrity. The National Working Group on Swiss franc reference rate, which leads efforts to reform benchmark interest rates, has recommended SARON as the alternative for CHF LIBOR.

  • Representative market show more
  • Risk-neutral reference rate show more
  • Calculation and publication show more
  • Governance and regulation show more

Quick facts  
SARON® Swiss Average Rate Overnight
ISINCH0049613687
Bloomberg-/Reuters-TickerSSARON/SARON.S
Definition Volume-weighted average interest rate
Dissemination Calendar on all CHF trading and settlement days
Fixing-Time 12 pm 4 pm 6 pm
FixingsSRFXON1 SRFXON2 SRFXON3
FuturesEUREX: FSO3 / ICE: SA3
ClearingCME, EUREX, LCH
Historical data since 30.06.1999
Introduction 25.08.2009
Publication start Daily at 8:30 a.m.
Publication interval Every 10 minutes

Index information
Description Download
SARON® factsheet

Static data of all SIX indices
Description Download
All indices and rates calculated by SIX

Legal notice

® SAR, SAR SWISS AVERAGE RATE, SARON, SCR, SCR SWISS CURRENT RATE, SCRON, SAION, SCION are registered or pending trademarks of the SIX Swiss Exchange. Licensing is subject to a fee.