LONDON, November 08, 2021– (BUSINESS WIRE) – Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that ICE Benchmark Administration Limited ( IBA) has launched its SOFR ICE Swap in US Dollars Rate® to be used as a benchmark in financial contracts and financial instruments by licensees.

The launch of the SOFR ICE US Dollar Exchange Rate Benchmark follows the successful publication of the SOFR ICE US Dollar Exchange Rate Parameters on an indicative “beta” basis since October 1, 2021.

“Today we are launching SOFR ICE Swap Rate to assist the US dollar non-linear derivatives market in its ongoing transition to SOFR,” said Tim Bowler, president of ICE Benchmark Administration.

The parameters of the SOFR ICE exchange rate in US dollars are available for the same terms and published together with the current benchmark of the ICE LIBOR exchange rate “1100”. They are available here alongside IBA’s other ICE exchange rate benchmarks covering the Euro, British Pound and US Dollar with terms ranging from one to 30 years. The parameters of the ICE SOFR swap rate in US dollars are determined in accordance with the published ICE Swap Rate “Waterfall” methodology, using the eligible input data for interest rate swaps linked to the SOFR.

The parameters are provided for use as a reference by licensees and subject to the terms of their ICE Swap Rate license agreements in US dollars.

IBA continues to publish indicative parameters, “Beta”, of ICE swap rates adjusted to the SOFR spread in US dollars, determined in accordance with the methodology suggested by the Alternative Reference Rates Committee (ARRC) in its document “Suggested Fallback Formula for the USD LIBOR ICE Swap Rate “, for an initial testing period. These parameters are provided for informational and illustrative purposes only to enable recipients to evaluate the parameters and provide feedback, and are not intended to, and IBA expressly prohibits their use for any other purpose, including as a benchmark, index or benchmark. in financial instruments, financial contracts or investment funds. IBA will notify in due course when the parameters of the ICE swap rate adjusted on SOFR spread in US dollars will be available for use in contracts and financial instruments.

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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 reserves all rights to the ICE swap rate methodology and ICE swap rate parameters, including the parameters of the ICE SOFR US dollar swap rate and the US dollar SOFR spread-adjusted ICE swap rate ” beta ”. ICE, ICE Swap Rate and ICE Benchmark Administration are trademarks of IBA and / or its affiliates. IBA is not affiliated with the New York Fed. The New York Fed does not endorse, endorse or recommend any product or service offered by IBA.

About the intercontinental exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services in major asset classes that provide our clients with access to essential workflow tools that increase transparency and operational efficiency. We operate Exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our global fixed income data services and execution capabilities provide insights, analytics, and platforms that help our clients capitalize on opportunities and operate more efficiently. TO ICE Mortgage Technology, we’re transforming and digitizing the US residential mortgage process, from consumer engagement to loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunities.

Trademarks of ICE and / or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE, and New York Stock Exchange. Information regarding trademarks and additional intellectual property rights of Intercontinental Exchange, Inc. and / or its affiliates can be found here. The key information documents for certain products covered by the EU Retail and Insurance Investment Products Regulation can be accessed on the website of the relevant exchange 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 risk. and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in forward-looking statements, see documents filed by the Securities and Exchange Commission (SEC) of ICE, including, but not limited to be limited to the risk factors in ICE’s annual report. Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the SEC on February 4, 2021.

ICE- CORP

Source: Intercontinental exchange

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