Three Month Sterling (Short Sterling) Future37650330
ICE Futures Europe

Three Month Sterling (Short Sterling) Future


Cash settled future based on ICE Benchmark Administration Limited London Interbank Offered Rate (ICE LIBOR) rate for three month deposits

Market Specifications

Trading Screen Product Name
Three Month Sterling Future
Trading Screen Hub Name
Contract Symbol
Unit of Trading
£1250 * Rate Index
Delivery Date
First business day after the Last Trading Day
Delivery Months
March, June, September, December, and two serial months, such that 26 delivery months are available for trading, with the nearest three delivery months being consecutive calendar months
100.0000 minus the numerical value of the rate of interest
Minimum Price Fluctuation
0.0050 (£6.25)
Last Trading Day
11:00 - on the third Wednesday of the delivery month
Exchange Delivery Settlement Price
Based on the ICE Benchmark Administration Limited London Interbank Offered Rate (ICE LIBOR) for three month sterling deposits at 11:00 on the Last Trading Day. The EDSP will be 100.00 minus the EDSP Rate (i.e. the ICE LIBOR) rounded to three decimal places. Where the EDSP Rate is not an exact multiple of 0.001, it will be rounded to the nearest 0.001 or, where the EDSP Rate is an exact uneven multiple of 0.0005, to the nearest lower 0.001 (e.g. a ICE LIBOR of 5.43750 becomes 5.437)
Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with priority given to the first order at the best price subject to a minimum order size (collar) and limited to a maximum order size (cap).
NCR, RL and IPL Levels
NCR: 0.10;
RL: 0.10;
IPL: 0.20, 1 second recalculation and 3 second hold periods.

To access NCR documentation click here
Off Exchange Trade Types
Block Trading, Basis Trading
Contract Standard
Cash settlement based on the Exchange Delivery Settlement Price.
TAS (Trade at Settlement)
MIC Code
Clearing Venues

Trading Hours

New York2:30 AM - 1:00 PM
02:30 - 13:00
1:03 AM
London7:30 AM - 6:00 PM
07:30 - 18:00
6:03 AM
Singapore2:30 PM - 1:00 AM
14:30 - 01:00
1:03 PM


Clearing Admin Name
STIR Sterling