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FCA and BoE publish statement encouraging market participants in a switch to SONIA in the sterling non-linear derivatives market from 11 May

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Published on: 29 March 2021

Published by LNB News

LNB News 29/03/2021

Document Information

Issue Date: 29 March 2021

Published Date: 29 March 2021

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Financial Conduct Authority (FCA) and the Bank of England (BoE) have published a statement encouraging market participants in a switch to SONIA in the sterling non-linear derivatives market from 11 May 2021. This is to facilitate a further shift in market liquidity toward SONIA, bringing benefits for a wide range of users as they move away from LIBOR.

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