After the launch of the ICE SONIA indices in April 2021

LONDON, September 21, 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”) launched ICE Risk Free Rate (RFR) Indices in US dollar (SOFR), euro (€ STR) and Japanese yen (TONA), following the launch of the ICE SONIA indices for the pound sterling in April 2021.

The ICE RFR indices were developed to meet the needs of the loan market as it transitions to RFRs by standardizing the calculation of interest for financial contracts and providing pre-calculated compound interest values ​​for each business day. Indices are designed to provide parties with a simple method of calculating compound interest between two dates and agreeing on their associated accrued interest. As described in the white paper released today, all ICE RFR indices use the same underlying calculation methodology.

“The EBRD is very happy to see the introduction of the various indices by the ICE Benchmark Administration. From the start, we made indices a central part of the design of our new client loan product because we believe they greatly simplify the composition calculation and reduce the risk of reconciliation between the parties, ”said Axel van Nederveen, Treasurer of the European Bank for Reconstruction and Development. “What we are particularly pleased with is that the ICE Benchmark Administration will also publish values ​​for non-working days, which will help resolve remaining hurdles for the correct implementation of the arrears composition methodology with lag. observation. “

“Expanding the ICE indices to cover GBP, USD, EUR and JPY RFRs provides lenders and borrowers around the world with an expanded set of resources to help them transition to RFR-based lending,” said Tim Bowler, Chairman of ICE Benchmark Administration. “By engaging closely with the market, we are working hard to ensure that the lending and borrowing community has the economic and operational tools they need to move to RFRs in their financial contracts in all currencies. “

The indices include the option of retrospection where the parties can agree to use a time-lagged view of the underlying RFR. Retrospective analyzes help lenders and borrowers manage cash flow and resolve operational issues associated with determining the total interest owed on a loan before the end of the accrual period. To facilitate accounting for loan accumulations on reporting dates that are not business days, the ICE RFR indices provide values ​​for each calendar day.

The ICE RFR indices are published daily. Potential licensees should contact [email protected] for more information.

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 Regulations.

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 Regulation on retail and insurance-based investment products can be found on the website of the corresponding 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.

Disclaimer

The trademark “SONIA” is used under license from the Bank of England (the principal administrator of SONIA), and use of any such mark does not imply or express any endorsement or endorsement by the Bank of England. “Bank of England” and “SONIA” are registered trademarks of the Bank of England.

ICE Benchmark Administration Limited is not affiliated with the New York Fed. The New York Fed does not endorse, endorse, or recommend any product or service offered by ICE Benchmark Administration Limited.

ICE- CORP
Source: Intercontinental exchange

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210921005628/en/

Contacts

ICE media contact:
Rebecca mitchell
[email protected]
+44 7951 057 351

Contact for ICE investors:
Mary caroline o’neal
[email protected]
(770) 738-2151

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