Three Month Sterling (Short Sterling) Future

Three Month Sterling (Short Sterling) Future37650330

Description

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
ICEU
Symbol
L
Unit of Trading
Interest rate on three month deposit of £500,000
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
Quotation
100.00 minus rate of interest
Minimum Price Movement
First quarterly delivery month: Half Basis Point (£6.25)

All other quarterly delivery months and all serial delivery months: One Basis Point (£12.50)

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)
Algorithm
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).
Block Trades
Block Trading, Basis Trading
Contract Standard
Cash settlement based on the Exchange Delivery Settlement Price.
MIC Code
IFLL
Clearing Venues
ICEU
Loading...

Trading Hours

CityTradingPre-Open
New York2:30 AM - 1:00 PM
02:30 - 13:00
1:03 AM
01:03
London7:30 AM - 6:00 PM
07:30 - 18:00
6:03 AM
06:03
Singapore3:30 PM - 2:00 AM
15:30 - 02:00
2:03 PM
14:03
Loading...

Codes

Clearing Admin Name
STIR Sterling
Physical
L
Logical
L
GMI(FC)
R&N A.C.N.