Example of a FAIRFix auction for 3 month SONIA with pre-auction mid at 5bp

 

Non-Competitive Bids:

  1. £1 bil

  2. £250 mil

  3. £110 mil

  4. £1.5 bil

  5. £500 mil

  6. £2 bil

 

Non-Competitive Offers:

  1. £3 bil

  2. £400 mil

  3. £1.5 bil

  4. £750 mil

  5. £2 bil

    Net balance: £2.29 bil of offers

Competitive Bids:

  1. 4.9 for £750 mil (filled @4.8)

  2. 4.85 for £1.1 bil (filled @4.8)

  3. 4.8 for £3 bil (partially filled @4.8)

  4. 4.7 for £5 bil

  5. 4.6 for £8 bil

  6. 4.5 for £10 bil

    All trades transacted at single rate that fully satisfies total demand (4.8bp)

 

Competitive Offers:

  1. £1 bil at 5.1

  2. £2 bil at 5.2

  3. £800 mil at 5.25

  4. £5 bil at 5.3

  5. £9 bil at 5.4

  6. £10 bil at 5.5