With LIBOR for new contracts ending Dec. 31, 2021,and LIBOR’s usage finally over as of June 30, 2023, anew era for risk-free reference rates is underway. Financial services firms are transitioning to replacements such as the Secured Overnight Financing Rate (SOFR), and they are grappling with the post-LIBOR impacts upon their trading, risk, and collateral management operations. Firms will see that they need a strategic rather than piecemeal approach for the transition, says Sophie Foy, the global head of product marketing at Adenza. The company was formed by the merger of Calypso Technology, which last year won the FTF Award for Best Buy-Side Collateral Management Solution, and AxiomSL. FTF News recently got time with Foy for the Q&A that follows.