ICE Europe: L Three Month Sterling (Short Sterling) Future prices chart
Three Month Sterling (Short Sterling) Future (ICE Futures Europe: L) Contract Specifications
ICE = Intercontinental Exchange, Inc.
Cash settled future based on ICE Benchmark Administration Limited London Interbank Offered Rate (ICE LIBOR) rate for three month deposits
Trading Screen Product Name: Three Month Sterling Future
Trading Screen Hub Name: ICEU
(1) Contract Symbol: S, MIC Code: IFLL, Clearing Venues: ICEU
(2) Clearing Admin Name: STIR Sterling, Physical: L, Logical: L, Symbol Code: L
Unit of Trading: £1250 * Rate Index
Quotation: 100.0000 minus the numerical value of the rate of interest
Minimum Price Fluctuation: 0.0050 (£6.25)
Settlement Method: Cash settlement
Delivery Date: First business day after the Last Trading Day
Delivery Months: March, June, September, December, and two serial months, such that 26 delivery months are available for trading, with the nearest three delivery months being consecutive calendar months
Last Trading Day: 11:00 - on the third Wednesday of the delivery month
Exchange Delivery Settlement Price: Based on the ICE Benchmark Administration Limited London Interbank Offered Rate (ICE LIBOR) for three month sterling deposits at 11:00 on the Last Trading Day. The EDSP will be 100.00 minus the EDSP Rate (i.e. the ICE LIBOR) rounded to three decimal places. Where the EDSP Rate is not an exact multiple of 0.001, it will be rounded to the nearest 0.001 or, where the EDSP Rate is an exact uneven multiple of 0.0005, to the nearest lower 0.001 (e.g. a ICE LIBOR of 5.43750 becomes 5.437)
Algorithm: Central order book applies a gradual time based pro-rata (GTBPR) matching algorithm with priority given to the first order at the best price subject to a minimum order size (collar) and limited to a maximum order size (cap).
NCR, RL and IPL Levels: NCR: 0.10, RL: 0.10, IPL: 0.20, 1 second recalculation and 3 second hold periods.
New York 03:30 - 14:00 (Pre open: 02:03)
London 07:30 - 18:00 (Pre open: 06:03)
Singapore 15:30 - 02:00 (Pre open: 14:03)