Intercontinental Exchange, a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that ICE Benchmark Administration Limited (IBA) has been authorized as a regulated benchmark administrator under the EU Benchmarks Regulation (BMR).

Authorisation was granted by the UK’s Financial Conduct Authority (FCA) on April 27, 2018.

“We are pleased that IBA has received EU regulated benchmark administrator status,” said Tim Bowler, President of IBA. “IBA was founded to reform and bring transparency to global benchmarks. We aim to adopt the highest standards for the benchmarks that we administer.”

IBA is one of the world’s most experienced administrators for regulated benchmarks. A subsidiary of Intercontinental Exchange, Inc., IBA was founded in 2014 and administers the following systemically important benchmarks: ICE LIBOR, the LBMA Gold & Silver Prices and ICE Swap Rate. IBA also operates the ISDA SIMM Crowdsourcing facility.