ICE BENCHMARK ADMINISTRATION

ICE Benchmark Administration Launches ICE Term SOFR Reference Rates as a Benchmark for use in Financial Instruments

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Wednesday, March 16, 2022
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ICE Term SOFR Reference Rates (ICE Term SOFR) are designed to measure expected (i.e.

Key Points: 
  • ICE Term SOFR Reference Rates (ICE Term SOFR) are designed to measure expected (i.e.
  • The ICE Term SOFR Waterfall methodology currently uses dealer-to-client prices and volumes for eligible SOFR-linked interest rate swaps available on Tradewebs institutional platform to generate ICE Term SOFR settings.
  • By launching ICE Term SOFR as a benchmark, we are providing financial markets with an additional tool to support benchmark transition, said Tim Bowler, President of ICE Benchmark Administration.
  • Prospective users of ICE Term SOFR settings should contact IBAs licensing team at [email protected] for information on licensing ICE Term SOFR for use in financial instruments.

ICE Benchmark Administration Introduces ICE U.S. Dollar Inflation Expectations Index Family

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Tuesday, March 8, 2022
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Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that ICE Benchmark Administration Limited (IBA) is introducing the ICE U.S. Dollar Inflation Expectations Index Family to help investors gauge future inflation expectations and inform policy and risk management decision making.

Key Points: 
  • Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that ICE Benchmark Administration Limited (IBA) is introducing the ICE U.S. Dollar Inflation Expectations Index Family to help investors gauge future inflation expectations and inform policy and risk management decision making.
  • The inflation index family is designed to provide daily market implied inflation expectations over three-time horizons:
    Expected inflation over the next 12 months;
    Expected longer term (five-year) inflation one year forward; and
    Expected longer term (five-year) inflation five years forward.
  • We have created the ICE U.S. Dollar Inflation Expectations Index Family to provide the market with an easy to access tool to measure expectations for future inflation, said Tim Bowler, President of ICE Benchmark Administration.
  • IBA reserves all rights in the ICE U.S. Dollar Inflation Expectations Index Family methodology and in the ICE U.S. Dollar Inflation Expectations Index Family settings.

ICE Benchmark Administration launches Beta ICE Term SOFR Reference Rates

Retrieved on: 
Thursday, February 10, 2022
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The Beta ICE Term SOFR Reference Rates (ICE Term SOFR) are designed to measure expected (i.e.

Key Points: 
  • The Beta ICE Term SOFR Reference Rates (ICE Term SOFR) are designed to measure expected (i.e.
  • We are pleased to support the development and adoption of alternative rates by launching Beta ICE Term SOFR rates, said Tim Bowler, President of ICE Benchmark Administration.
  • Beta ICE Term SOFR rates are published daily on IBAs ICE Term Rates webpage, which provides a comprehensive overview of IBAs term risk-free-rate solutions and is designed to help stakeholders with their transition to alternative benchmarks.
  • IBA reserves all rights in the ICE Term SOFR methodology, and in the Beta ICE Term SOFR settings.

ICE Benchmark Administration to Launch GBP SONIA Spread-Adjusted ICE Swap Rate® as a Benchmark on January 4, 2022

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Wednesday, December 22, 2021
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GBP SONIA Spread-Adjusted ICE Swap Rates are an essential component for how the non-linear derivative market addresses legacy contracts referencing GBP LIBOR ICE Swap Rate, said Bob Goodfellow, Head of GBP Rates and Inflation Options at NatWest Markets.

Key Points: 
  • GBP SONIA Spread-Adjusted ICE Swap Rates are an essential component for how the non-linear derivative market addresses legacy contracts referencing GBP LIBOR ICE Swap Rate, said Bob Goodfellow, Head of GBP Rates and Inflation Options at NatWest Markets.
  • GBP SONIA Spread-Adjusted ICE Swap Rate settings are available here , alongside IBAs GBP SONIA ICE Swap Rate settings.
  • IBA reserves all rights in the ICE Swap Rate methodology, and in the ICE Swap Rate and GBP SONIA Spread-Adjusted ICE SWAP Rate settings.
  • ICE Swap Rate, LIBOR and ICE Benchmark Administration are registered trademarks of IBA and/or its affiliates.

ICE Benchmark Administration Provides Update Regarding LIBOR® Cessation and "Synthetic" LIBOR

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Friday, November 19, 2021
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2 The ICE Term SONIA Reference Rate, which is a forward-looking term SONIA reference rate, provided by IBA.

Key Points: 
  • 2 The ICE Term SONIA Reference Rate, which is a forward-looking term SONIA reference rate, provided by IBA.
  • 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.
  • LIBOR and ICE Benchmark Administration are registered trademarks of IBA and/or its affiliates.
  • Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.

ICE to Host Carbon Credit Auctions for Permian Global, a Leading Developer of Large-Scale Tropical Forest Protection and Restoration Projects

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Thursday, November 18, 2021
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Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that it plans to begin carbon credit auctions for Permian Global, a leading developer of large-scale tropical forest protection and restoration projects.

Key Points: 
  • Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that it plans to begin carbon credit auctions for Permian Global, a leading developer of large-scale tropical forest protection and restoration projects.
  • ICE will host auctions for Permian Globals verified emission reduction certificates (VERs), which are the quantifiable emissions that would have been released into the atmosphere had deforestation and forest degradation occurred.
  • Each Permian Global project is verified against robust third-party forest carbon standards by independent expert auditors.
  • Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.

ICE Benchmark Administration Launches U.S. Dollar SOFR ICE Swap Rate® for Use as a Benchmark

Retrieved on: 
Monday, November 8, 2021
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The launch of the U.S. dollar SOFR ICE Swap Rate benchmark follows the successful publication of U.S. dollar SOFR ICE Swap Rate settings on an indicative, Beta basis since October 1, 2021.

Key Points: 
  • The launch of the U.S. dollar SOFR ICE Swap Rate benchmark follows the successful publication of U.S. dollar SOFR ICE Swap Rate settings on an indicative, Beta basis since October 1, 2021.
  • The U.S. dollar SOFR ICE Swap Rate settings are available for the same tenors and published at the same time as the current U.S. dollar LIBOR 1100 ICE Swap Rate benchmark.
  • U.S. dollar SOFR ICE Swap Rate settings are determined in accordance with the published ICE Swap Rate Waterfall methodology , using eligible input data in respect of SOFR-linked interest rate swaps.
  • IBA reserves all rights in the ICE Swap Rate methodology and the ICE Swap Rate settings, including the U.S. dollar SOFR ICE Swap Rate and Beta U.S. dollar SOFR Spread-Adjusted ICE Swap Rate settings.

ICE to Launch its First Nature-Based Solutions Carbon Credit Futures Contract

Retrieved on: 
Friday, November 5, 2021
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Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that it plans to launch its first Nature-Based Solutions (NBS) carbon credit futures contract.

Key Points: 
  • Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that it plans to launch its first Nature-Based Solutions (NBS) carbon credit futures contract.
  • Each futures contract will be equal to 1,000 eligible VCS credits with each credit equivalent to one metric ton of greenhouse gas emissions.
  • Alongside this, ICE Benchmark Administration (IBA) is forming the ICE Carbon Oversight Committee to provide independent governance and oversight of ICEs activities in the voluntary carbon markets.
  • The Committee will advise on the criteria that carbon credits must meet to be deliverable in ICE hosted futures contracts.

ICE Benchmark Administration Launches ‘Beta’ USD SOFR ICE Swap Rate® and USD SOFR Spread-Adjusted ICE Swap Rate® to Assist Non-Linear Market in its Transition to SOFR

Retrieved on: 
Wednesday, October 6, 2021
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IBAs indicative, Beta, USD SOFR ICE Swap Rate and USD Spread-Adjusted ICE Swap Rate settings are available for the same tenors and published at the same time as the current USD LIBOR 1100 ICE Swap Rate benchmark.

Key Points: 
  • IBAs indicative, Beta, USD SOFR ICE Swap Rate and USD Spread-Adjusted ICE Swap Rate settings are available for the same tenors and published at the same time as the current USD LIBOR 1100 ICE Swap Rate benchmark.
  • Beta USD SOFR ICE Swap Rate settings are determined in accordance with the published ICE Swap Rate Waterfall methodology , using eligible input data in respect of SOFR-linked interest rate swaps, while the Beta USD SOFR Spread-Adjusted ICE Swap Rate settings are determined in line with the methodology suggested by the Alternative Reference Rates Committee (ARRC) in its paper Suggested Fallback Formula for the USD LIBOR ICE Swap Rate .
  • IBA will announce in due course when USD SOFR ICE Swap Rate and USD SOFR Spread-Adjusted ICE Swap Rate settings will be made available for use in financial instruments.
  • IBA reserves all rights in the ICE Swap Rate methodology and the ICE Swap Rate settings, including the Beta USD SOFR ICE Swap Rate and USD SOFR Spread-Adjusted ICE Swap Rate settings.

UK Financial Conduct Authority Announces that it will Compel ICE Benchmark Administration to Publish 1-, 3- and 6-Month Sterling and Japanese yen “synthetic” LIBOR

Retrieved on: 
Wednesday, September 29, 2021
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The FCA has stated that these six LIBOR settings will cease at year-end 2021 unless it uses its powers to compel their publication on a synthetic basis.

Key Points: 
  • The FCA has stated that these six LIBOR settings will cease at year-end 2021 unless it uses its powers to compel their publication on a synthetic basis.
  • The FCA announced that users of LIBOR should continue to focus on active transition rather than relying on synthetic LIBOR, and that synthetic sterling and Japanese yen LIBOR settings will not be published indefinitely.
  • 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.
  • ICE LIBOR, LIBOR and ICE Benchmark Administration are registered trademarks of IBA and/or its affiliates.