The Secured Overnight Financing Rate (SOFR) has been steadily declining over the last few months. The 30-Day Average SOFR was 0.01067 as of April 8, 2021. The global required field prompt in ConformX for the current Index Rate (FI 16) has been modified to allow a value of 0.000% through in case the SOFR index decreases to that point. The Index Rate prompt for when the field is empty will remain in place. Negative values are already allowed through for the Index Rate.
This change to the global field prompt is currently on Stage and Stage 2 servers for testing and will be in effect on April 16, 2021. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.