The Bank of England has backed a rival to the Libor fix, run by ICE
The International Swaps and Derivatives
Association (Isda) said Thursday that it has charged the
Intercontinental Exchange’s benchmark unit with
the development of a crowdsourcing utility for its Standard
Initial Margin Model (Isda Simm).
The ICE Benchmark Administration (IBA)
will build and operate the service which will aggregate risk
data which will in turn help the market implement model
consistently, said Isda.
Development of Isda Simm comes as part of
the association’s Working Group on Margining
Requirements implementation initiative, designed to support
market participants in meeting new margining rules for
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