One Month SONIA Index Futures66380299
ICE Futures Europe
One Month SONIA Index Futures
Description
Cash settled future based on the average Sterling Over Night Index Average (SONIA) rate on a one month sterling deposit.
Market Specifications
- 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
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 2:30 AM - 1:00 PM 02:30 - 13:00 | 1:03 AM 01:03 |
| LONDON | 7:30 AM - 6:00 PM 07:30 - 18:00 | 6:03 AM 06:03 |
| SINGAPORE | 3:30 PM - 2:00 AM* 15:30 - 02:00 | 2:03 PM 14:03 |
Codes
- Clearing Admin Name
- Sonia Master
- Physical
- SOA
- Logical
- SOA
- GMI (FC)
- ION A.C.N.
- Symbol Code
- SOA