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.