On 17 May 2021, it was announced that ICE Benchmark Administration Limited (IBA) had launched GBP SONIA Spread-Adjusted ICE Swap Rate® ‘Beta’ settings. IBA is publishing daily, indicative GBP SONIA Spread-Adjusted ICE Swap Rate ‘Beta’ settings for an initial testing period. The settings are designed to support the market in transitioning non-linear derivatives, structured products and cash market instruments that currently reference GBP LIBOR ICE Swap Rate.
