EURONIA, or Euro Overnight Index Average, is a reference rate computed as a weighted average of euro overnight funding rates in the London interbank market. It serves as a benchmark for short-term interest rates in the European financial markets.
SONIA, an acronym for Sterling Overnight Index Average, is a reference rate computed as a weighted average of sterling overnight funding rates in the interbank market.
A trade association for UK brokers operating in the money markets, the WMBA is responsible for providing key indices like SONIA and EURONIA for overnight lending in sterling and euro markets respectively.
