The ICE unit is looking at all three of its benchmark setting processes
The president of the benchmark arm of the
Intercontinental Exchange has said he is looking to overhaul
the Libor price fixing process and expand its gold and interest
rate swap services.
Finbarr Hutcheson, the president of
Intercontinental Exchange Benchmark Administration (IBA),
marked the transition to a new ICE Swap Rate methodology on
Wednesday by outlining his plan for the three benchmarks run by
IBA: ICE Swap Rate; gold; and Libor.
Hutcheson told FOW: "On Libor, over the
longer term, we are planning an overhaul of the methodology.
The banks submit their prices slightly differently and we want
to make the submission process standardised for all
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