Libor end date confirmed as 31 December
FCA has confirmed all Libor settings will cease immediately on 31 December for major currencies as firms are urged to complete transition plans.
Tag: SONIA
SONIA options go live at ICE
Cumulative contract volume for one month and three-month SONIA at ICE has reached more than £13 trillion notional as it launches SONIA options.
SONIA options to launch on ICE Futures Europe in December
ICE said open interest in its three month SONIA futures grew to record levels recently as it prepares to launch new SONIA options.
JP Morgan executes first electronic SONIA swap vs gilt future on Tradeweb
The first electronic invoice spread trade on Tradeweb was executed on the platform between Capula Investment Management with JP Morgan acting as the liquidity provider.
ICE rolls out beta version of GBP swap rate for SONIA swaps
ICE has started publishing the beta version of the ICE Swap Rate for swaps referencing SONIA for market participants to test and submit feedback.
LCH registers first SONIA/SOFR swap from Bank of America and Lloyds
The cross-currency basis swap between Bank of America and Lloyds highlights LCH's commitment to supporting the reform of reference rates.
Buy-side advance efforts in Libor transition
New data from the Investment Association reveals that 70% of asset managers reduced exposure to Libor in 2019.
ICE launches beta version of SONIA reference rates
ICE Benchmark Administration has started publishing beta term SONIA rates for testing, using data from BGC, TP ICAP, and Tradition’s Trad-X central limit order books.
Bank of England and FCA warn Libor transition timeline could be impacted
Market participants have been told that despite disruption, the transition away from Libor is still targeted for the end of 2021.
Industry urged to accelerate Libor transition this year
Despite Libor being due to cease at the end of 2021, UK authorities have set out a timeline for the shift to the Sonia benchmark throughout this year.