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ICE Futures Europe

One Month SONIA Index Futures


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
Contract Symbol
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
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.
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.
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
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
Sonia Master
Symbol Code