Intercontinental Exchange: ICE Benchmark Administration Launches GBP SONIA Spread-Adjusted ICE Swap Rate 'Beta' Settings 'Beta' settings. IBA is publishing daily, indicative GBP SONIA Spread-Adjusted ICE Swap Rate 'Beta' settings for an initial testing period. The settings are designed to support the market in transitioning non-linear derivatives, structured products and cash market instruments that currently reference GBP LIBOR ICE Swap Rate. GBP SONIA Spread-Adjusted ICE Swap Rate 'Beta' settings are available here, alongside GBP SONIA ICE Swap Rate. The 'Beta' settings are published for tenors ranging from one to 30 years and are determined in line with the methodology proposed by the Working Group on Sterling Risk-Free Reference Rates in its paper "