ICE Three Month SONIA Index

Three Month SONIA Index Futures Contract *is a cash settled future based on the interest rate on a three month sterling deposit.
== Contract Specs ==
Three Month SONIA Index Futures Contract	Three Month SONIA Index Futures Contract 	Three Month SONIA Index Futures Contract 	Three Month SONIA Index Futures Contract
Trading Screen Product Name 	Three Month SONIA 	Three Month SONIA 	Three Month SONIA
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	SO3 	SO3 	SO3
Unit of Trading 	£2,500 * Rate Index 	£2,500 * Rate Index 	£2,500 * Rate Index
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)
Delivery Months 	March, June, September, December, such that 24 delivery months are available for trading.
Contract Delivery Months are named by the start date of the accrual period. 	March, June, September, December, such that 24 delivery months are available for trading.
Contract Delivery Months are named by the start date of the accrual period. 	March, June, September, December, such that 24 delivery months are available for trading.
Contract Delivery Months are named by the start date of the accrual period.
Quotation 	100.00 minus the numerical value of rate of interest 	100.00 minus the numerical value of rate of interest 	100.00 minus the numerical value of rate of interest
Last Trading Day 	One business day prior to the third Wednesday of the next quarterly Delivery Month trading will cease at 18:00 (London Local Time) 	One business day prior to the third Wednesday of the next quarterly Delivery Month trading will cease at 18:00 (London Local Time) 	One business day prior to the third Wednesday of the next quarterly Delivery Month trading will cease at 18:00 (London Local Time)
Algorithm 	Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with a time-weighting of 2 and 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 a time-weighting of 2 and 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 a time-weighting of 2 and 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).
Exchange Delivery Settlement Price 	EDSP Publication is the next business day after the Last Trading Day
100 minus the EDSP Rate, determined as described below.
Based on SONIA (Sterling Over Night Index Average) as calculated by the Benchmark Administrator each business day, the EDSP Rate represents the effective rate of interest achieved by reinvesting at SONIA for each day of the accrual period of the contract. The following formula shall be applied:
Click here for formula
where:
S_i = SONIA rate on the i^th day of the accrual period
d_i= the number of days that the value S_i is applied
x = the number of SONIA fixings used in the accrual period
N = the total number of days for which the x fixings are applied, i.e. the number of calendar days in the accrual period
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 Publication is the next business day after the Last Trading Day
100 minus the EDSP Rate, determined as described below.
Based on SONIA (Sterling Over Night Index Average) as calculated by the Benchmark Administrator each business day, the EDSP Rate represents the effective rate of interest achieved by reinvesting at SONIA for each day of the accrual period of the contract. The following formula shall be applied:
Click here for formula
where:
S_i = SONIA rate on the i^th day of the accrual period
d_i= the number of days that the value S_i is applied
x = the number of SONIA fixings used in the accrual period
N = the total number of days for which the x fixings are applied, i.e. the number of calendar days in the accrual period
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 Publication is the next business day after the Last Trading Day
100 minus the EDSP Rate, determined as described below.
Based on SONIA (Sterling Over Night Index Average) as calculated by the Benchmark Administrator each business day, the EDSP Rate represents the effective rate of interest achieved by reinvesting at SONIA for each day of the accrual period of the contract. The following formula shall be applied:
Click here for formula
where:
S_i = SONIA rate on the i^th day of the accrual period
d_i= the number of days that the value S_i is applied
x = the number of SONIA fixings used in the accrual period
N = the total number of days for which the x fixings are applied, i.e. the number of calendar days in the accrual period
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.
Interest Rate Basis 	Act/365 Fixed 	Act/365 Fixed 	Act/365 Fixed
First Accrual Date 	Third Wednesday of the Delivery Month 	Third Wednesday of the Delivery Month 	Third Wednesday of the Delivery Month
Last Accrual Date 	Business day prior to the Third Wednesday of the next quarterly Delivery Month 	Business day prior to the Third Wednesday of the next quarterly Delivery Month 	Business day prior to the Third Wednesday of the next quarterly Delivery Month
Wholesale Service 	Basis trading, Block Trading, Asset Allocation 	Basis trading, Block Trading, Asset Allocation 	Basis trading, Block Trading, Asset Allocation
Clearing 	ICE Clear Europe 	ICE Clear Europe 	ICE Clear Europe
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.
Statement in relation to EDSP Formation 	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 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 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. 	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 3Month 	Sonia 3Month
Codes 	Physical 	SO3 	SO3
Codes 	Logical 	SO3 	SO3
Codes 	GMI (FC) 	None 	None
Codes 	ION A.C.N. 	None 	None
Options on Three Month SONIA Index Future	Options on Three Month SONIA Index Future 	Options on Three Month SONIA Index Future 	Options on Three Month SONIA Index Future
Trading Screen Product Name 	Three Month SONIA 	Three Month SONIA 	Three Month SONIA
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	SO3 	SO3 	SO3
Unit of Trading 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future
Contract Series 	8 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	8 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	8 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day.
Contract Standard 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months.
Last Trading Day 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT)
Exercise 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00
Expiry 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day.
Minimum Price Fluctuation 	0.0025 (£6.25) 	0.0025 (£6.25) 	0.0025 (£6.25)
Strike Price Intervals 	For all expiry months: 0.0500, (i.e. 0.0500%) e.g. 99.0000, 99.0500, 99.1000, 99.1500 etc
For all contract months:
A minimum of 31 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.0500, (i.e. 0.0500%) e.g. 99.0000, 99.0500, 99.1000, 99.1500 etc
For all contract months:
A minimum of 31 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.0500, (i.e. 0.0500%) e.g. 99.0000, 99.0500, 99.1000, 99.1500 etc
For all contract months:
A minimum of 31 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.
Cabinet Transaction Value 	£2.50 	£2.50 	£2.50
Algorithm 	Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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).
Option Premium 	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.
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 	None
Trading Hours 	LONDON 	7:30 AM - 6:00 PM
07:30 - 18:00 	None
Trading Hours 	SINGAPORE 	2:30 PM - 1:00 AM
14:30 - 01:00 	None
Codes 	Clearing Admin Name 	Sonia 3Month 	Sonia 3Month
Codes 	Physical 	SO3 	SO3
Codes 	Logical 	SO3 	SO3
Codes 	GMI (FC) 	None 	None
Codes 	ION A.C.N. 	None 	None
One Year Mid-Curve Option on Three Month SONIA Index Future	One Year Mid-Curve Option on Three Month SONIA Index Future 	One Year Mid-Curve Option on Three Month SONIA Index Future 	One Year Mid-Curve Option on Three Month SONIA Index Future
Trading Screen Product Name 	Three Month SONIA 1yr Mid-Curve 	Three Month SONIA 1yr Mid-Curve 	Three Month SONIA 1yr Mid-Curve
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	SY1 	SY1 	SY1
Unit of Trading 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future
Contract Series 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day.
Contract Standard 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months.
Last Trading Day 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT)
Exercise 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00
Expiry 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day.
Minimum Price Fluctuation 	0.0025 (£6.25) 	0.0025 (£6.25) 	0.0025 (£6.25)
Strike Price Intervals 	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.
Cabinet Transaction Value 	£2.50 	£2.50 	£2.50
Algorithm 	Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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).
Option Premium 	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.
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 	None
Trading Hours 	LONDON 	7:30 AM - 6:00 PM
07:30 - 18:00 	None
Trading Hours 	SINGAPORE 	2:30 PM - 1:00 AM
14:30 - 01:00 	None
Codes 	Clearing Admin Name 	Sonia 3Month 	Sonia 3Month
Codes 	Physical 	SY1 	SY1
Codes 	Logical 	SY1 	SY1
Codes 	GMI (FC) 	None 	None
Codes 	ION A.C.N. 	None 	None
Two Year Mid-Curve Option on Three Month SONIA Index Future	Two Year Mid-Curve Option on Three Month SONIA Index Future 	Two Year Mid-Curve Option on Three Month SONIA Index Future 	Two Year Mid-Curve Option on Three Month SONIA Index Future
Trading Screen Product Name 	Three Month SONIA 2yr Mid-Curve 	Three Month SONIA 2yr Mid-Curve 	Three Month SONIA 2yr Mid-Curve
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	SY2 	SY2 	SY2
Unit of Trading 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future
Contract Series 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day.
Contract Standard 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months.
Last Trading Day 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT)
Exercise 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00
Expiry 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day.
Minimum Price Fluctuation 	0.0025 (£6.25) 	0.0025 (£6.25) 	0.0025 (£6.25)
Strike Price Intervals 	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.
Cabinet Transaction Value 	£2.50 	£2.50 	£2.50
Algorithm 	Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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).
Option Premium 	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.
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 	None
Trading Hours 	LONDON 	7:30 AM - 6:00 PM
07:30 - 18:00 	None
Trading Hours 	SINGAPORE 	2:30 PM - 1:00 AM
14:30 - 01:00 	None
Codes 	Clearing Admin Name 	Sonia 3Month 	Sonia 3Month
Codes 	Physical 	SY2 	SY2
Codes 	Logical 	SY2 	SY2
Codes 	GMI (FC) 	None 	None
Codes 	ION A.C.N. 	None 	None
Three Year Mid-Curve Option on Three Month SONIA Index Future	Three Year Mid-Curve Option on Three Month SONIA Index Future 	Three Year Mid-Curve Option on Three Month SONIA Index Future 	Three Year Mid-Curve Option on Three Month SONIA Index Future
Trading Screen Product Name 	Three Month SONIA 3yr Mid-Curve 	Three Month SONIA 3yr Mid-Curve 	Three Month SONIA 3yr Mid-Curve
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	SY3 	SY3 	SY3
Unit of Trading 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future
Contract Series 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day.
Contract Standard 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months.
Last Trading Day 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT)
Exercise 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00
Expiry 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day.
Minimum Price Fluctuation 	0.0025 (£6.25) 	0.0025 (£6.25) 	0.0025 (£6.25)
Strike Price Intervals 	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.
Cabinet Transaction Value 	£2.50 	£2.50 	£2.50
Algorithm 	Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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).
Option Premium 	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.
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 	None
Trading Hours 	LONDON 	7:30 AM - 6:00 PM
07:30 - 18:00 	None
Trading Hours 	SINGAPORE 	2:30 PM - 1:00 AM
14:30 - 01:00 	None
Codes 	Clearing Admin Name 	Sonia 3Month 	Sonia 3Month
Codes 	Physical 	SY3 	SY3
Codes 	Logical 	SY3 	SY3
Codes 	GMI (FC) 	None 	None
Codes 	ION A.C.N. 	None 	None
Four Year Mid-Curve Option on Three Month SONIA Index Future	Four Year Mid-Curve Option on Three Month SONIA Index Future 	Four Year Mid-Curve Option on Three Month SONIA Index Future 	Four Year Mid-Curve Option on Three Month SONIA Index Future
Trading Screen Product Name 	Three Month SONIA 4yr Mid-Curve 	Three Month SONIA 4yr Mid-Curve 	Three Month SONIA 4yr Mid-Curve
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	SY4 	SY4 	SY4
Unit of Trading 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future
Contract Series 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day.
Contract Standard 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months.
Last Trading Day 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT)
Exercise 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00
Expiry 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day.
Minimum Price Fluctuation 	0.0025 (£6.25) 	0.0025 (£6.25) 	0.0025 (£6.25)
Strike Price Intervals 	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.
Cabinet Transaction Value 	£2.50 	£2.50 	£2.50
Algorithm 	Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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).
Option Premium 	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.
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 	None
Trading Hours 	LONDON 	7:30 AM - 6:00 PM
07:30 - 18:00 	None
Trading Hours 	SINGAPORE 	2:30 PM - 1:00 AM
14:30 - 01:00 	None
Codes 	Clearing Admin Name 	Sonia 3Month 	Sonia 3Month
Codes 	Physical 	SY4 	SY4
Codes 	Logical 	SY4 	SY4
Codes 	GMI (FC) 	None 	None
Codes 	ION A.C.N. 	None 	None
Five Year Mid-Curve Option on Three Month SONIA Index Future	Five Year Mid-Curve Option on Three Month SONIA Index Future 	Five Year Mid-Curve Option on Three Month SONIA Index Future 	Five Year Mid-Curve Option on Three Month SONIA Index Future
Trading Screen Product Name 	Three Month SONIA 5yr Mid-Curve 	Three Month SONIA 5yr Mid-Curve 	Three Month SONIA 5yr Mid-Curve
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	SY5 	SY5 	SY5
Unit of Trading 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future 	One Three Month SONIA Index Future
Contract Series 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day. 	4 Quarterly and 4 Serial
The expiry months available for trading will be the relevant number of nearest quarterly expiry months and the relevant number of nearest serial expiry months. A new expiry month is available for trading the business day after the Last Trading Day of an expiry month, with the exception of Five Year Mid-Curve Options for which a new expiry month is available for trading on the Thursday following the Last Trading Day.
Contract Standard 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months. 	Assignment of one Three Month SONIA futures contract for the delivery month at the exercise price. The futures delivery month associated with each expiry month shall be:
March in respect of January, February and March expiry months;
June in respect of April, May and June expiry months;
September in respect of July, August and September expiry months;
December in respect of October, November and December expiry months.
Last Trading Day 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT) 	Friday before the third Wednesday of the expiry month
If such Friday is not a business day, “Last Trading Day” shall mean the business day immediately preceding such day.
On the Last Trading Day, trading in the expiring month will cease at 15:15.
All times are London Local Time (LLT)
Exercise 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00 	(a) Business days other than Last Trading Day: 17:00
(b) Last Trading Day for Serial Expiry Months: 16:00
Expiry 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day. 	Expiry Time: 16:00
An option to which the Clearing House is party as Buyer and which has not been exercised shall expire at 07:00 hrs on the business day following the Last Trading Day.
Minimum Price Fluctuation 	0.0025 (£6.25) 	0.0025 (£6.25) 	0.0025 (£6.25)
Strike Price Intervals 	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.	For all expiry months: 0.1000, (i.e. 0.1000%) eg 99.0000, 99.1000, 99.2000, 99.3000 etc
For all contract months:
A minimum of 21 Strike Prices in increments of "Exercise Price Intervals" above and below the at-the-money Strike Price. The “at-the-money” strike price is the closest interval nearest to the previous business day’s settlement price of the corresponding underlying future. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in the defined Exercise Price Intervals increments.
Cabinet Transaction Value 	£2.50 	£2.50 	£2.50
Algorithm 	Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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 a time-weighting of 1 (ie the algorithm is effectively a priority pro-rata 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).
Option Premium 	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.	The contract price is not paid at the time of purchase. Option positions, as with futures position, are settled-to-market daily giving rise to positive or negative variation margin flows. When the Buyer exercises/abandons an option, the Buyer is required to pay the original contract price to the Exchange's Clearing House (CH) and the CH will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the CH.
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 	None
Trading Hours 	LONDON 	7:30 AM - 6:00 PM
07:30 - 18:00 	None
Trading Hours 	SINGAPORE 	2:30 PM - 1:00 AM
14:30 - 01:00 	None
Codes 	Clearing Admin Name 	Sonia 3Month 	Sonia 3Month
Codes 	Physical 	SY5 	SY5
Codes 	Logical 	SY5 	SY5
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