10.27.2017

ICE To Launch SONIA Futures

10.27.2017

Intercontinental Exchange, a leading operator of global exchanges and clearing houses and provider of data and listings services, announced that on December 1, 2017, ICE Futures Europe expects to launch a new one month, cash-settled futures contract based on the Sterling Overnight Index Average (SONIA) rate.

“We are pleased to introduce SONIA futures to our Sterling interest rate portfolio alongside the highly liquid Short Sterling and Gilt futures markets” said Stuart Williams, President, ICE Futures Europe. “We’ve seen significant growth in demand in both Sterling and Euro interest rate futures and options this year, and remain committed to developing innovative solutions that meet the needs of our customers.”

ICE offers a comprehensive range of European interest rate futures and options contracts across geographies and tenors from short- and medium-term rates to long-term rates.

In the first nine months of 2017 average daily volume in ICE’s interest rate futures and options contracts, including Short Sterling, Euribor and Gilts, grew 38%, and open interest increased 46% year over year.

Source: ICE

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