--- title: ICE Has Record Gilts and Sterling Rates Activity description: SONIA Futures and Options, the RFR-equivalent benchmark for Short Sterling, also reached records. image: https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/currency-etps-May-12-2022-09-26-58-68-AM.png --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/ice-has-record-gilts-and-sterling-rates-activity#popup-newsletter) #### Want the latest news on securities markets -- FREE? Sign up to receive exclusive articles on topics including: - Equity market structure - Profiles of buy-side investment firms - The evolution of multi-asset-class trading - Regulation and its implications for markets - The search for liquidity in fixed income markets - The convergence of fintech and capital markets Select one or more newsletters you would like to receive: menu [![Markerts media](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/header%20logo.svg "Markerts media")](https://articles.marketsmedia.com/) - [Options](https://articles.marketsmedia.com/tag/options) - Options - ICE Has Record Gilts and Sterling Rates Activity Search - [Home](https://articles.marketsmedia.com/) - [Trending](https://articles.marketsmedia.com/tag/trending) - [Featured](https://articles.marketsmedia.com/tag/daily-email-feature) - [Sectors](https://articles.marketsmedia.com/tag/sectors) - [From The Markets](https://articles.marketsmedia.com/tag/from-the-markets) - [AWARDS](https://articles.marketsmedia.com/tag/events) - [Newsletter](https://awards.marketsmedia.com/newsletter-sign-up) - [Newsletter](https://articles.marketsmedia.com/ice-has-record-gilts-and-sterling-rates-activity#popup-newsletter) Hide search Search - NewsLetter ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/trading-up-occ-iex-select-board-members-citadel-lands-lieblich-573x379-Jul-07-2022-09-34-11-57-AM.jpg) [ON THE MOVE: Citi Hires Artie Ambrose;...](https://articles.marketsmedia.com/on-the-move-citi-hires-artie-ambrose-natalie-a-brown-to-mesirow) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_445735906_L.jpg) [Trading Adapts to ESG and Sustainable...](https://articles.marketsmedia.com/trading-adapts-to-esg-and-sustainable-investing) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/iStock-917493152-Jul-07-2022-09-34-19-09-AM.jpg) [Focus on FX Execution Connectivity](https://articles.marketsmedia.com/focus-on-fx-execution-connectivity) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_333839538_L.jpg) [TRACE Turns 20](https://articles.marketsmedia.com/trace-turns-20) 03.04.2021 By Shanny Basar Options # ICE Has Record Gilts and Sterling Rates Activity 03.04.2021 By Shanny Basar ![ICE Has Record Gilts and Sterling Rates Activity](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/currency-etps-May-12-2022-09-26-58-68-AM.png) [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/ice-has-record-gilts-and-sterling-rates-activity) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/ice-has-record-gilts-and-sterling-rates-activity) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/ice-has-record-gilts-and-sterling-rates-activity) ***Gilts reach record Single Day Volume of 1.91M and record ADV of more than 459,000 contracts*** Intercontinental Exchange, a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, announced record activity across its benchmark Gilts and Sterling rates complex as the market manages Sterling-related risk. ICE Gilt futures and options, the highly liquid market benchmarks for UK Government Bonds, reached a Single Day Volume record of more than 1.91 million contracts and record Average Daily Volume (ADV) of more than 459,000 contracts during February. https://twitter.com/ICE\_Markets/status/1367486657742721025 Available in a range of maturities out to 30 years, ICE Gilt futures and options provide trading opportunities for market participants looking to hedge or gain exposure to interest rates around anticipated central bank rate changes, with the benchmark ICE Long Gilt futures used by the market to manage the intermediate term of the UK government bond yield curve. Short Sterling futures and options, the benchmark for managing UK interest rate risk, reached record open interest of more than 20.1 million contracts on March 1, 2021. SONIA Futures and Options, the RFR-equivalent benchmark for Short Sterling, reached record ADV of more than 144,000 contracts, and sits at a record for Open Interest of more than 216,000 contracts. On February 25, SONIA had a record day for volume with more than 390,000 contracts traded. “The growth in our GBP rates complex reflects both the depth of liquidity we offer, as well the extent of activity taking place as the market manages its exposure to Gilts and Sterling-related risk”, said Steve Hamilton, Global Head of Financial Derivatives at ICE. “ICE has seen multiple, sustained records across its GBP complex. We have continued to innovate to support the needs of our customers through LIBOR-transition, recently launching ERIS Interest Rate Futures and Three Month SARON Index Futures.” As one of the leading venues for interest rate derivatives, ICE offers a comprehensive range of benchmark products alongside its Sterling rates complex including Euribor futures and options, SOFR futures and €STR futures. Source: ICE [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/ice-has-record-gilts-and-sterling-rates-activity) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/ice-has-record-gilts-and-sterling-rates-activity) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/ice-has-record-gilts-and-sterling-rates-activity) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/trading-across-the-pond-Jul-07-2022-09-33-17-07-AM.png?width=376&height=250&name=trading-across-the-pond-Jul-07-2022-09-33-17-07-AM.png)](https://articles.marketsmedia.com/eu-achieves-electronic-trading-of-standardized-otc-derivatives) Regulation ## [EU Achieves Electronic Trading of Standard OTC Derivatives](https://articles.marketsmedia.com/eu-achieves-electronic-trading-of-standardized-otc-derivatives) ISDA warns on proposed changes to post-trade deferrals regime. 07.07.2022 By Shanny Basar 2. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/iStock-522304914-Jul-07-2022-09-33-41-28-AM.jpg?width=376&height=250&name=iStock-522304914-Jul-07-2022-09-33-41-28-AM.jpg)](https://articles.marketsmedia.com/six-digital-exchange-collaborates-with-fireblocks) Fintech ## [SIX Digital Exchange Collaborates with Fireblocks](https://articles.marketsmedia.com/six-digital-exchange-collaborates-with-fireblocks) The partnership will focus on delivering an institutional custody solution for digital assets. 07.07.2022 By Shanny Basar 3. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/Depositphotos_103566932_L-2.jpg?width=376&height=250&name=Depositphotos_103566932_L-2.jpg)](https://articles.marketsmedia.com/iosco-publishes-crypto-asset-roadmap) Regulators ## [IOSCO Publishes Crypto-Asset Roadmap](https://articles.marketsmedia.com/iosco-publishes-crypto-asset-roadmap) The IOSCO Fintech Task Force will collaborate closely with other international bodies. 07.07.2022 By Shanny Basar [![MarketsMedia](https://articles.marketsmedia.com/hubfs/MarketsMedia.svg "MarketsMedia")](http://marketsmedia.com) - [About us](https://www.marketsmedia.com/about-us) - [Careers](https://www.marketsmediagroup.com/careers) - [Contact](https://www.marketsmediagroup.com/contact) - [Advertise](https://www.marketsmediagroup.com/advertise) - [Newsletter](https://awards.marketsmedia.com/newsletter-sign-up) - [Corporate Site](https://marketsmediagroup.com) - © 2026 Markets Media Holdings LLC - - Terms & Conditions - Privacy Policy {{ standard\_footer\_includes }}