ICE Futures Europe to Launch New Contract on SONIA

Intercontinental Exchange announced that ICE Futures Europe plans to launch a new three-month, cash-settled futures contract based on the Sterling Overnight Index Average (SONIA) rate on June 1, 2018 (subject to relevant regulatory approvals). The launch follows the introduction of the ICE One Month SONIA futures contract on December 1, 2017 and complements ICE’s range of interest rate futures and options contracts, which span multiple currencies (EUR, GBP, CHF and USD) and tenors.