Triple

Given a phrase, classify it is english named entity (e.g., persons, organizations, works of art) in Latin script, or not (e.g., literals, dates, URLs, verbose phrases). For disambiguation, the statement where the phrase occurs as object is also given. Please return a JSON object with `phrase` (string, the phrase being analyzed) and `is_ne` (boolean, indicating whether the phrase is a Named Entity).

Phrase: CME Term SOFR | Statement: [3-month U.S. dollar LIBOR, successorBenchmark, CME Term SOFR]

Target entity: CME Term SOFR
Context triple: [3-month U.S. dollar LIBOR, successorBenchmark, CME Term SOFR]

• A. SOFR futures
  SOFR futures are exchange-traded derivatives that allow market participants to hedge or speculate on future levels of the Secured Overnight Financing Rate, the U.S. dollar risk-free benchmark interest rate.
• B. CME CF Ether-Dollar Reference Rate
  The CME CF Ether-Dollar Reference Rate is a benchmark index that provides a once-a-day U.S. dollar price for Ether based on trading activity across major cryptocurrency exchanges.
• C. 3-month U.S. dollar LIBOR
  3-month U.S. dollar LIBOR is a benchmark interest rate indicating the average rate at which major global banks are willing to lend U.S. dollars to one another for a three-month term in the London interbank market.
• D. CME FX futures
  CME FX futures are standardized foreign exchange derivative contracts traded on the Chicago Mercantile Exchange that allow participants to hedge or speculate on currency price movements.
• E. CME
  CME is a major U.S.-based financial and commodity derivatives exchange known for trading futures and options on interest rates, equity indexes, foreign exchange, energy, and agricultural products.
• F. None of above. chosen
• G. Unsure - the case is ambiguous/there is not enough information to decide.

Generate a one-sentence description of the target entity. 
You are given a context triple in the form (subject, predicate, object), where the object is the target entity. 
# Instructions
Use the triple to infer relevant information about the entity. Describe the entity based on what is most defining, well-known. 
Avoid repeating the information from the triple, unless really essential.
# Response Format
Return only the sentence: "Description: [one-sentence description of the target entity]"

Entity: CME Term SOFR
Triple: [3-month U.S. dollar LIBOR, successorBenchmark, CME Term SOFR]

CME Term SOFR is a forward-looking, term-based interest rate benchmark derived from the Secured Overnight Financing Rate (SOFR), widely used in U.S. dollar lending and derivatives markets as a replacement for LIBOR.

Target entity: CME Term SOFR
Target entity description: CME Term SOFR is a forward-looking, term-based interest rate benchmark derived from the Secured Overnight Financing Rate (SOFR), widely used in U.S. dollar lending and derivatives markets as a replacement for LIBOR.

• A. SOFR futures
  SOFR futures are exchange-traded derivatives that allow market participants to hedge or speculate on future levels of the Secured Overnight Financing Rate, the U.S. dollar risk-free benchmark interest rate.
• B. CME CF Ether-Dollar Reference Rate
  The CME CF Ether-Dollar Reference Rate is a benchmark index that provides a once-a-day U.S. dollar price for Ether based on trading activity across major cryptocurrency exchanges.
• C. 3-month U.S. dollar LIBOR
  3-month U.S. dollar LIBOR is a benchmark interest rate indicating the average rate at which major global banks are willing to lend U.S. dollars to one another for a three-month term in the London interbank market.
• D. CME FX futures
  CME FX futures are standardized foreign exchange derivative contracts traded on the Chicago Mercantile Exchange that allow participants to hedge or speculate on currency price movements.
• E. CME
  CME is a major U.S.-based financial and commodity derivatives exchange known for trading futures and options on interest rates, equity indexes, foreign exchange, energy, and agricultural products.
• F. None of above. chosen