• Home
  • News
  • ICE Launches Sonia Indexes as Transition Advances

ICE Launches Sonia Indexes as Transition Advances

Intercontinental Exchange, Inc announced that ICE Benchmark Administration Limited has launched ICE SONIA Indexes for use by licensees, following a successful testing period.

ICE SONIA Indexes have been developed to support the needs of the UK lending market as it transitions to SONIA and are designed to provide a simple method for parties to calculate SONIA compound interest between any two dates and agree on their associated interest accruals. The Indexes expand IBA’s SONIA-based solutions offering and are available to licensees alongside ICE Term SONIA Reference Rates. ICE TSRR were launched as a benchmark in January 2021 to provide businesses, borrowers and lenders with a forward-looking, term SONIA benchmark to provide certainty when calculating their interest expenses and other contractual payments in advance.

© 2024 Financial Information Forum

Press enter to search
Press enter to search

Interested in joining us?

Download membership kit

Key Reasons to Join

  1. Stay informed on Current Regulatory and Market Initiatives
  2. Drive Industry Issues to Successful Resolution
  3. Impact the implementation timing and methodology of new rules
  4. Apply FIF Insight Within Your Firm