CME Group to Launch SONIA Interest Rate Futures

CME Groupwill launch Sterling Overnight Index Average (SONIA) futures on October 1, 2018, pending regulatory review.

CME Group will launch two new SONIA futures: a quarterly International Monetary Market (IMM) dated contract observing the recommended specifications of the Working Group on Sterling Risk Free Reference Rates; and a Bank of England Monetary Policy Committee (MPC) meeting dated contract. The MPC SONIA future is designed to meet the needs of market participants who require greater precision in managing exposure between the dates of the MPC meetings.

“Adding SONIA to our robust suite of futures provides clients a choice for how best to manage interest rate risk in their portfolios,” said Agha Mirza, CME Group Global Head of Interest Rate Products.  “Customers have told us that they value the unparalleled global distribution of CME Globex, the financial safeguards of CME Clearing, and our focus on client service.”