Sibor and SOR data to be subject to fees from Oct 1, 2015

SINGAPORE interbank offered rate (Sibor) and ABS swap offer rate (SOR) data will be subject to a monthly usage fee of US$1,500 each for subscribers from Oct 1, 2015, the benchmarks' administrator said on Thursday.

Subscribers who receive real-time Sibor or SOR data from a market data vendor will also be required to pay end-user fees of US$5 a month on each benchmark. Data that is delayed by 24 hours or more will be available for free to end-users.

The fee structure details can be found here.

"There is increasing work, oversight and investment needed to strengthen the robustness, transparency and efficiency of the benchmark contribution process in Singapore. We will continue to ensure that the governance processes of our benchmarks remain robust and acceptable to all market participants," said Ong-Ang Ai Boon, a director at ABS Benchmarks Administration Co Pte Ltd (ABS Co).

ABS Co, which owns and administers the ABS benchmarks in Singapore, is a fully owned subsidiary of the Association of Banks in Singapore.

ABS Co has appointed Thomson Reuters, its official calculating agent for the ABS benchmarks, to also manage the administration and billing on its behalf.