ICE April launched its gold fixing process in March with six banks submitting prices
The benchmark arm of the Intercontinental
Exchange (ICE) has said the proposed expansion of the range of
firms quoting prices to its Libor benchmark is a "sensible and
necessary measure" that should lead to increasing transaction
Exchange Benchmark Administration (IBA) said on Friday plans to
expand the range of counterparties were met with broad
In a position feedback document, IBA said
extending the range of counterparties was seen as "a sensible
and necessary measure for increasing the volume of transactions
to underpin Libor submissions".
The proposals suggest including not just
inter-bank trades but also trades from the wholesale market
such as with central banks, sovereign wealth funds, financial
institutions and large corporates.
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