LSE goes head to head with ICE over Libor replacement

The London Stock Exchange Groupwill launch a contract to compete directly with rival InterContinental Exchange to wean markets off Libor by 2021, the British bourse said on Monday.LSE's CurveGlobal derivatives arm is set to launch its three-month SONIA futures contract in the second quarter of this year.SONIA or Sterling Overnight Index Average, is a benchmark administered by the Bank of England.