ICE One Month SONIA Index

Cash settled future based on the average Sterling Overnight Index Average (SONIA) rate on a one month sterling deposit.
== Contract Specs ==
One Month SONIA Index Future 	One Month SONIA Index Future 	One Month SONIA Index Future 	One Month SONIA Index Future
Trading Screen Product Name 	One Month SONIA 	One Month SONIA 	One Month SONIA
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	SOA 	SOA 	SOA
Unit of Trading 	£2,500 * Rate Index 	£2,500 * Rate Index 	£2,500 * Rate Index
Delivery Date 	One business day after the Last Trading Day 	One business day after the Last Trading Day 	One business day after the Last Trading Day
Delivery Months 	A maximum of twenty four consecutive delivery months will be available for trading 	A maximum of twenty four consecutive delivery months will be available for trading 	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 	100.00 minus the numerical value of the rate of interest 	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) 	Front delivery month: 0.0025 (£6.25)
All other delivery months: 0.005 (£12.50) 	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) 	The Last business day of the contract month at 18:00 (London time) 	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 an exact uneven multiple of 0.00005, to the nearest lower 0.0001. EDSP shall be determined as 100 minus the EDSP Rate, determined as described above.	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 an exact uneven multiple of 0.00005, to the nearest lower 0.0001. EDSP shall be determined as 100 minus the EDSP Rate, determined as described above.	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 an exact uneven multiple of 0.00005, to the nearest lower 0.0001. EDSP shall be determined as 100 minus the EDSP Rate, determined as described above.
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). 	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). 	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).
Off Exchange Trade Types 	Block Trading, Basis Trading, Asset Allocation 	Block Trading, Basis Trading, Asset Allocation 	Block Trading, Basis Trading, Asset Allocation
Contract Standard 	Cash settlement based on the Exchange Delivery Settlement Price. 	Cash settlement based on the Exchange Delivery Settlement Price. 	Cash settlement based on the Exchange Delivery Settlement Price.
Additional Information 	The contracts have a standardized 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 contracts have a standardized 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 contracts have a standardized 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. 	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. 	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 	IFLL 	IFLL
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	2:30 AM - 1:00 PM
02:30 - 13:00 	1:03 AM
01:03
Trading Hours 	LONDON 	7:30 AM - 6:00 PM
07:30 - 18:00 	6:03 AM
06:03
Trading Hours 	SINGAPORE 	2:30 PM - 1:00 AM
14:30 - 01:00 	1:03 PM
13:03
Codes 	Clearing Admin Name 	Sonia Master 	Sonia Master
Codes 	Physical 	SOA 	SOA
Codes 	Logical 	SOA 	SOA
Codes 	GMI (FC) 	None 	None
Codes 	ION A.C.N. 	None 	None
== Notes ==
== References ==
== Resources ==
Category:Sponsored Pages
Category:Sponsored Pages - ICE
Category:Reserved Pages
Category:Reserved Pages - ICE
Category:Futures Contracts Traded on ICE
Category:Futures Data in Template
Category:Interest Rates