- Trading Screen Product Name
- One Month SONIA
- Trading Screen Hub Name
- ICEU
- Contract Symbol
SOA
- Unit of Trading
£2,500 * Rate Index
- Delivery Date
One business day after the Last Trading Day
- Delivery Month
A maximum of twenty four consecutive delivery months will be
available for trading
- Quotation
100.00 minus the numerical value of the rate of interest
- Minimum Price Fluctuation
Front delivery month: 0.0025 (£6.25)
All other delivery months: 0.005 (£12.50)
- Last Trading Day
The Last business day of the contract month at 18:00 (London time)
- Exchange Delivery Settlement Price
As soon as reasonably practicable after 09:00 on the business day
following the Last Trading Day.
Based on SONIA (Sterling Over Night Index Average) as calculated
and published by the Benchmark Administrator or its Calculation
Agent each business day. In respect of final settlement, the EDSP
Rate will be an interest rate expressed in percent, based on the
monthly average SONIA rate for the delivery month. Where the EDSP
Rate is not an exact multiple of 0.0001, it will be rounded to the
nearest 0.0001 or, where the EDSP Rate is greater than or equal to
0.00005, it will be rounded up to the nearest 0.0001.
- 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).
- Wholesale Trade Types
Block Trading, Basis Trading, Asset Allocation
Minimum Volume Thresholds can be found
here
- Contract Standard
Cash settlement based on the Exchange Delivery Settlement Price.
- Additional Information
The contracts have a standardised basis point value so that, for
hedging purposes, a calculation will need to be made in relation to
the hedge ratio to take into account any mismatch between the
standardized basis point value and the actual basis point value of
the position being hedged, determined by the actual number of days
in the accrual period.
- Disclaimer
The “SONIA” mark is used under license from the Bank of
England (the benchmark administrator of SONIA), and the use of such
mark does not imply or express any approval or endorsement by the
Bank of England. “Bank of England” and
“SONIA” are registered trademarks of the Bank of
England.
- MIC Code
- IFLL
- Clearing Venues
- ICEU