Optical character recognition and SONIA: Difference between pages

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imported>Doug Williamson
(Link with Bank of England webpage: Benchmarks.)
 
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(OCR).  
Sterling Overnight Index Average.


Technical process that allows written text to be converted into an electronic format by the use of computer-scanning technology. 


It is used to capture electronically information on cheques and other paper-based documents and is similar to magnetic ink character recognition (MICR).
Tracks actual average market sterling funding rates each day:
*for settlement that day
*where repayment is made on the following business day.
 
 
It is published by WMBA Ltd (part of European Venues and Intermediaries Association - EVIA) in London at 5pm each day.
 
 
It is defined and calculated as the weighted average rate (to four decimal places) of all unsecured sterling overnight cash transactions brokered in London by EVIA member firms between midnight and 4.15pm London time with all counterparties in a minimum deal size of £25 million.
 
 
The Bank of England will become the administrator of a revised SONIA with effect from 23 April 2018.
 
Among other changes, SONIA will be broadened to include overnight unsecured transactions negotiated bilaterally as well as those arranged via brokers.




== See also ==
== See also ==
* [[Magnetic ink character recognition]]
* [[Benchmark]]
* [[Euro Overnight Index Average ]]
* [[EURONIA]]
* [[European Venues and Intermediaries Association]]
* [[LIBOR]]
* [[Over night index average rate]]
* [[Overnight indexed swap]]
* [[SARON]]
* [[Sterling overnight index average]]
* [[TONAR]]
 
 
 
===Other links===
 
[http://www.bankofengland.co.uk/markets/benchmarks Bank of England: SONIA and other benchmarks]
 
[http://www.wmba.org.uk/pages/index.cfm?page_id=31 Wholesale Markets Brokers' Association (WMBA)]

Revision as of 20:57, 4 January 2018

Sterling Overnight Index Average.


Tracks actual average market sterling funding rates each day:

  • for settlement that day
  • where repayment is made on the following business day.


It is published by WMBA Ltd (part of European Venues and Intermediaries Association - EVIA) in London at 5pm each day.


It is defined and calculated as the weighted average rate (to four decimal places) of all unsecured sterling overnight cash transactions brokered in London by EVIA member firms between midnight and 4.15pm London time with all counterparties in a minimum deal size of £25 million.


The Bank of England will become the administrator of a revised SONIA with effect from 23 April 2018.

Among other changes, SONIA will be broadened to include overnight unsecured transactions negotiated bilaterally as well as those arranged via brokers.


See also


Other links

Bank of England: SONIA and other benchmarks

Wholesale Markets Brokers' Association (WMBA)