ICE Benchmark Administration Launches new U.S. Dollar Reference Rates webpage to assist the market with U.S. Dollar LIBOR® T...
February 02 2021 - 9:15AM
Business Wire
Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator
of global exchanges and clearing houses and provider of mortgage
technology, data and listings services, announces that ICE
Benchmark Administration Limited (IBA) has launched a new webpage
to provide a comprehensive overview of all of IBA’s solutions
designed to help stakeholders prepare for the transition to new
U.S. Dollar interest rate benchmarks.
The webpage displays the following daily reference rates for
one, three, six- and 12-month tenor periods, together with
historical test results:
- ICE Bank Yield Index rates (in indicative, beta form) - a
credit-sensitive interest rate index designed to serve as a
potential reference rate for U.S. Dollar commercial lending, which
is 100%-based on executed transaction data;
- IBA’s forward-looking Term SOFR (ICE Term SOFR) rates (in
indicative, beta form) - designed to provide term risk-free rate
settings in U.S. Dollars, based on prices for SOFR-linked futures
contracts and Overnight Index Swaps (OIS);
- Tradeweb ICE CMT rates (in indicative, beta form) - designed to
provide a daily overview of U.S. Treasury yields for standard
maturities, based on transactions or quotes for U.S. Treasury
securities on the Tradeweb institutional global platform;
- ICE Bank Yield Index Spreads to ICE Term SOFR; and
- ICE Bank Yield Index Spreads to Tradeweb ICE CMT rates.
“We are excited to launch this new webpage which provides an
accessible and transparent way for the market to, each day, compare
and view the different reference rates IBA is developing, including
the ICE Bank Yield Index, ICE Term SOFR and Tradeweb ICE CMT rates,
to help different segments of the market transition contracts from
U.S. Dollar LIBOR®,” said Tim Bowler, President of ICE Benchmark
Administration.
The data and information on the U.S. Dollar Reference Rates
webpage are historical and relate to a period of testing. They are
provided solely for information and illustration purposes. They are
not intended for, and IBA expressly prohibits their use for, any
other purpose, including as a reference, index or benchmark in
financial instruments, financial contracts or investment funds.
About ICE Benchmark Administration
ICE Benchmark Administration is authorized and regulated
by the Financial Conduct Authority for the regulated activity of
administering a benchmark, and is authorized as a benchmark
administrator under the UK Benchmarks Regulation. IBA (and Tradeweb
in the case of the Tradeweb ICE CMT rates) reserves all rights in
the methodologies used to calculate the settings (and in the
settings themselves) made available on the U.S. Dollar Reference
Rates webpage. ICE, ICE LIBOR, LIBOR and ICE Benchmark
Administration are registered trademarks of IBA and/or its
affiliates. Tradeweb is a registered trademark of Tradeweb Markets
LLC.
About Intercontinental Exchange
Intercontinental Exchange(NYSE: ICE) is a Fortune 500
company and provider of marketplace infrastructure, data services
and technology solutions to a broad range of customers including
financial institutions, corporations and government entities. We
operate regulated marketplaces, including the New York
Stock Exchange, for the listing, trading and clearing of
a broad array of derivatives contracts and financial securities
across major asset classes. Our comprehensive data services
offering supports the trading, investment, risk management and
connectivity needs of customers around the world and across asset
classes. As a leading technology provider for the U.S. residential
mortgage industry, ICE Mortgage Technology provides the
technology and infrastructure to transform and digitize U.S.
residential mortgages, from application and loan origination
through to final settlement.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located at
http://www.intercontinentalexchange.com/terms-of-use. Key
Information Documents for certain products covered by the EU
Packaged Retail and Insurance-based Investment Products Regulation
can be accessed on the relevant exchange website under the heading
“Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2019, as
filed with the SEC on February 6, 2020.
About SOFR
SOFR is published by the Federal Reserve Bank of New York (The
New York Fed) and is used subject to The New York Fed Terms of
Use. The New York Fed has no liability for your use of the
data. The U.S. Dollar ICE Bank Yield Index is not associated with,
endorsed or sponsored by The New York Fed.
Source: Intercontinental Exchange
ICE-CORP
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version on businesswire.com: https://www.businesswire.com/news/home/20210202005721/en/
ICE Media Contact Rebecca Mitchell +44 7951 057351
rebecca.mitchell@theice.com
ICE Investor Contact Warren Gardiner 770-835-0114
Warren.Gardiner@theice.com
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