About BitsSecurity
BitsSecurity is a SOFR and repo-rate desk: New York Fed reference-rate data, calculators built on it, and plain explanations of the conventions behind floating-rate contracts.
Who publishes it
BitsSecurity is published by Right Angles Technologies Inc, a company based at 22656 Esplanada Cir W, Boca Raton, FL 33433, USA. Right Angles builds and runs the site, writes its pages and answers its email. There are no guest posts and no sponsored articles.
What the site is for
SOFR is the reference rate in a great many U.S. dollar loans, notes and swaps, and the questions people bring to it are usually small and specific. What was SOFR on a given date? What does 30-day Average SOFR plus 2.25% come to on a $10 million draw for the quarter? How does a two-day lookback change the interest due? Why did the rate jump at the end of a month?
The site answers those questions in three ways:
- Data. Daily SOFR, TGCR, BGCR and EFFR back to April 2, 2018, the SOFR Averages and Index, and the federal funds target range, each with tables and charts by year in the SOFR history section.
- Calculators. Ten browser-based tools for interest at SOFR plus a margin, compounding in arrears, index-based averages, loan schedules, rate shocks, day counts and LIBOR fallbacks. Those that compound SOFR share one routine, tested against the New York Fed's published index.
- Explanations. Guides to how the rate is built, how contracts compound it, how Term SOFR differs, and what the LIBOR transition fixed in place.
The intended reader works in treasury, lending, loan operations, accounting or audit and needs to check a number, not be sold on one.
Editorial standards
Cite or cut. Every rate, date, rule and spread on the site traces to a named source: the New York Fed's data and methodology pages, ARRC releases, ISDA and Bloomberg notices, the Federal Register, the FCA or CME Group. When we could not confirm a claim at its source, we left it out.
Dated data. Rates come from a snapshot that is refreshed by hand, and each data page and calculator says which date its figures run through. Prose that quotes history, such as a year's high, is checked against the same files the tables are built from. The sources and methodology page lists the exact endpoints and formulas.
Our numbers are labeled as ours. Yearly averages, spreads, month-end measures and percentile ranks are calculations by this site, and we say so wherever they appear.
No Term SOFR. CME Term SOFR requires a license to redistribute, so we explain it without publishing it.
Independence
BitsSecurity has no affiliation with the Federal Reserve Bank of New York, the Federal Reserve Board, the ARRC, CME Group, ISDA or Bloomberg, and none of them has reviewed or approved the site. We do not arrange loans, sell hedges or give advice. The site is paid for by advertising that Google places automatically; advertisers do not choose what we write about or what the calculators show.
Reaching a person
Email info@rightangles.com. A person at Right Angles reads it. If you think a figure is wrong, give us the series and the date and we will check it against the New York Fed's record. More detail on what to include is on the contact page.