The SARON, standing for Swiss Average Rate Overnight, serves as the reference interest rate for the secured money market in Swiss Francs (CHF). This overnight interest rate is determined by transactions and price quotations on the Swiss Repo Market, a central element of the Swiss value chain. SIX is the benchmark administrator responsible for the calculation and publication of SARON. Internationally, there is consensus that financial benchmarks must be resilient and reliable. Repo markets are considered a robust choice as they function as the backbone of the financial industry and central bank activities, being liquid, tightly regulated, and of high integrity. The National Working Group (NWG) for reference rates in the Swiss Franc recommends SARON as an alternative to CHF LIBOR as part of the reference interest rate reform. Equivalent to SARON, SONIA is used in the United Kingdom, SOFR in the USA, and Euribor in Europe.