ICE SONIA Futures and Options Trading Volumes Hit Record

Intercontinental Exchange, Inc. (ICE), a leading global provider of data, technology and market infrastructure, unveiled yesterday the record volume in SONIA futures and options as investors return to UK interest rate futures markets.

On February 2, 2023, SONIA futures and options traded reached a record of 1.147 million, including a record 979,561 in SONIA futures, up 19% over the prior record. Open Interest in SONIA futures and options rose by a third since the start of 2023 at 2.758 million contracts.

Besides, open interest in Euribor futures and options went up 23% on a yearly basis at 16.274 million contracts, with average daily volume up 42% at 1.55 million contracts.

The total traded across ICE’s short term interest rate futures and options portfolio stood at 4.7 million contracts on February 2, 2023, of which approximately 3.5 million was in Euribor futures and options.

"The record trading in SONIA reflects a return of confidence by investors to UK interest rate markets following the impact of the mini-budget in 2022," said Chris Rhodes, President of ICE Futures Europe. "As the benchmark for pricing and risk managing UK interest rate risk, SONIA futures and options markets are benefiting from the measures taken last year to bolster liquidity. The record volumes, together with the growth in Euribor volumes over the past year, are creating an exciting European rates environment for traders."