Citi cleared the first buy-side SONIA trade in May on the CurveGlobal platform, after a global hedge fund executed a three-month SONIA contract with the firm. US Exchange operator CME is offering all new contracts at the SONIA exchange rate on 1 October , subject to regulatory clearance . The decision to introduce an alternative benchmark to Libor follows the introduction of the CME ’s SOFR futures in May.
US Exchange operator CME is offering all new contracts at the SONIA exchange rate on 1 October , subject to regulatory clearance . The decision to introduce an alternative benchmark to Libor follows the introduction of the CME ’s SOFR futures in May.