SONIA futures are cash settled short-term interest rate (STIR) futures contracts, based on the average Sterling Overnight Index Average (SONIA). SONIA reflects bank and building societies’ overnight funding rates in the sterling unsecured market.
ICE One and Three Month SONIA futures will trade alongside our existing suite of interest rate futures and options, providing market participants with access to a deep liquidity pool and margin offset efficiencies at the clearing house from day one. In addition, for ease of execution, Inter-Contract spreads between Three Month SONIA and Short Sterling futures are available in the order book.
ICE SONIA Futures: The Benefits
A capital efficient way to manage exposure at the short-term end of the sterling curve through a centrally cleared, exchange-traded contract.
Trade SONIA futures alongside ICE’s liquid European interest rate complex
Key spread trading functionality and strategies available for interest rates on the ICE platform
Access the underlying benchmark alongside streaming data for ICE 1mth and 3mth SONIA futures
Expanding Alternative Risk Free Rates
Traded at ICE Futures Europe and cleared through ICE Clear Europe, the futures contracts allows offsets against 26 million contracts of open interest. ICE SOFR follows the successful launch of SONIA futures which has traded in excess of £1.4 trillion in notional volume in One Month and Three Month contracts.