ICE Benchmark Administration Receives Recognition Under the EU Benchmarks Regulation
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Key Terms
eu benchmarks regulationregulatory
A set of EU rules that governs how financial benchmarks — the indexes or reference numbers used to price loans, investments and funds — are created, managed and overseen. Think of it as rules for a common yardstick: it forces benchmark providers to follow clear procedures, reduces the risk of manipulation, and gives investors confidence that prices and valuations tied to those benchmarks are reliable and subject to official oversight.
esmaregulatory
The European Securities and Markets Authority (ESMA) is the EU agency that sets rules and supervises fairness and transparency for financial markets across Europe. Think of it as a referee and rule-maker who aims to protect investors, reduce market abuse, and ensure companies and exchanges follow consistent standards; its guidance can affect trading rules, disclosure requirements, and investor confidence, which in turn can influence stock prices and capital flows.
third-country benchmark administratorregulatory
A third-country benchmark administrator is an organization based in a foreign jurisdiction that calculates and publishes financial reference rates (like interest or commodity indexes) used to price investments and contracts. For investors it matters because regulators may treat such providers differently than local ones — like using a referee from another league — which can affect whether a benchmark is legally accepted, how reliable it is perceived, and the ease of trading or settling contracts that rely on it.
ice swap ratefinancial
The ICE Swap Rate is a set of widely used benchmark interest rates for various maturities, calculated from the market prices of cleared interest-rate swap contracts processed by the Intercontinental Exchange. Investors and analysts treat it like a market 'thermometer' for borrowing costs—it helps price loans, bonds and derivatives, value future cash flows, and measure interest-rate risk, so small moves can meaningfully change asset values and financing costs.
lbma gold pricefinancial
The LBMA Gold Price is a widely used benchmark that indicates the market value of one troy ounce of gold in major currencies, produced through a transparent, auction-style process overseen by the London bullion market. Investors treat it like a posted price on a storefront: it’s the standard reference for valuing gold holdings, pricing physical trades and funds, and settling contracts, so changes directly affect portfolio values and transaction outcomes.
lbma silver pricefinancial
The LBMA silver price is the internationally recognized benchmark rate for one troy ounce of silver set by the London bullion market. Think of it as the daily “official” price tag that buyers, sellers and funds use to settle trades and value holdings, much like a headline exchange rate for a currency; changes in this number directly affect the market value of silver investments, mining stocks, and bullion-backed funds.
ice rfr indexesfinancial
ICE RFR Indexes are benchmark interest-rate measures produced by the Intercontinental Exchange that track short-term, nearly risk-free borrowing costs (overnight rates) for different currencies. Investors and contract writers use them like a common ruler or clock to set interest on loans, floating-rate bonds and derivatives, so payments and valuations stay consistent when market interest rates change. Reliable benchmarks reduce disagreement and help price interest-sensitive assets fairly.
financial conduct authorityregulatory
A government-authorized regulator that sets and enforces rules for banks, brokers, insurers and other financial firms to keep markets fair and safe. Think of it as a referee for the financial system: it watches for cheating, protects consumers, and can penalize companies that break the rules. Its actions matter to investors because enforcement decisions, rule changes or approvals influence company costs, reputations and overall market confidence.
LONDON--(BUSINESS WIRE)--
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced that the European Securities and Markets Authority (ESMA) has granted recognition to ICE Benchmark Administration Limited (IBA) as a third-country benchmark administrator under Article 32 of the EU Benchmarks Regulation (EU BMR).
ESMA’s recognition decision means that IBA’s ‘significant’ EU benchmarks – the ICE Swap Rate® and the LBMA Gold Price – remain available for use by ‘supervised entities’ in the European Union under the EU BMR.
“IBA is pleased to have been granted recognition by ESMA,” said Clive de Ruig, President of ICE Benchmark Administration. “This decision ensures IBA’s EU-based clients can continue to use the ICE Swap Rate® and the LBMA Gold Price without disruption and demonstrates our ability to apply robust governance and best-in-class technology to give market participants confidence in the information they depend upon.”
In addition to being recognised by ESMA, ICE Benchmark Administration is authorised and regulated by the U.K. Financial Conduct Authority for the regulated activity of administering a benchmark. ICE Benchmark Administration administers a number of other benchmarks pursuant to this authorisation, including the LBMA Silver Price, the ICE Term Reference Rates, and the ICE RFR Indexes. These benchmarks are not currently in scope of the EU BMR and, accordingly, are not currently subject to any EU-usage restrictions.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity.
ICE Benchmark Administration, a subsidiary of ICE, was founded to provide benchmark and other administrative services that bring certainty and predictability to the operation of global financial and commodity markets. IBA reserves all rights in its benchmark methodologies and settings. ICE Swap Rate 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. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website 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 risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 5, 2026.
