I presume that the following press release has come about because of the current concerns around Libor as Sonia and Eonia contracts (previously only available as OTC contracts) have not suffered from artifically high rates as they use collateral in exchange for loans which tends to lower the lending risk. Of course the success of these products will depend on how liquid they are...

Amsterdam, Brussels, Lisbon, London, New York, Paris, May 15 2008 – Liffe announced that the Exchange will launch one month futures contracts on the “Eonia” (Euro Overnight Indexed Average) and the “Sonia” (Sterling Overnight Indexed Average), and a three month “Eonia” Swap Index futures contract in June 2008.

The one month Eonia futures contracts will be referenced to Eonia rates, calculated each night by the European Central Bank, and published by Reuters. Similarly, the one month futures contracts on Sonia ...   more »