On the 22nd October 2019, the Swedish Bankers Association announced that it had reached an agreement to transfer the Administration of the key reference rate STIBOR to the Swedish Financial Benchmark Facility (SFBF). The newly formed company is a Swedish incorporated subsidiary of Global Rate Set Systems Ltd (GRSS).
Global Rate Set Systems Ltd is an independent company that specialises in benchmark administration, calculating agent and benchmark licensing services.
GRSS subsidiaries operate as benchmark administrators in a number of countries including;