Task: Instance Description Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes the instance 'ICE Benchmark Administration'?

A. legal entity and instrumentality that is Federal Reserve Bank of New York
B. the instance Limited (IBA) was established in July 2013 following an announcement by the Hogg Tendering Advisory Committee, an independent committee set up by the UK government to select the new administrator for the London Interbank Offered Rate (LIBOR).
C. the instance (FDIC), which preserves and promotes public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions for at least $250,000; by identifying, monitoring and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails.
D. the instance functional entity, which is a global business and financial information services and news provider as well as a FIGI registration authority

Answer: the instance Limited (IBA) was established in July 2013 following an announcement by the Hogg Tendering Advisory Committee, an independent committee set up by the UK government to select the new administrator for the London Interbank Offered Rate (LIBOR).