ESMA Grants Recognition to ICE Benchmark Administration as Third-Country Benchmark Administrator

Reuters02-10 20:00
ESMA Grants Recognition to ICE Benchmark Administration as Third-Country Benchmark Administrator

The European Securities and Markets Authority (ESMA) has granted recognition to ICE Benchmark Administration Limited $(IBA)$, a subsidiary of Intercontinental Exchange Inc. $(ICE)$, as a third-country benchmark administrator under Article 32 of the EU Benchmarks Regulation (EU BMR). This recognition allows IBA's 'significant' EU benchmarks, including the ICE Swap Rate® and the LBMA Gold Price, to remain available for use by supervised entities in the European Union. In addition to ESMA’s recognition, ICE Benchmark Administration is authorised and regulated by the U.K. Financial Conduct Authority for administering benchmarks. No other beneficiary organizations were mentioned in the announcement.

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