ICE Services Search ICE Benchmark Administration Overview ICE Benchmark Administration Limited (IBA) was established in 2013 in response to the increased oversight of benchmarks. As an authorised benchmark administrator, IBA’s aim is to return credibility, trust and integrity to benchmarks, by combining strong regulatory and governance frameworks with market-leading validation techniques and in-house technology solution. In July 2013, the Hogg Tendering Advisory Committee, an independent committee set up by the UK government, selected IBA as new the new administrator for the London Interbank Offered Rate (LIBOR). The transfer of the administration of LIBOR from BBA LIBOR to IBA was completed on February 1, 2014, following authorisation by the Financial Conduct Authority (FCA). In April 2014, following an extensive selection process managed by the International Swaps and Derivatives Association (ISDA), IBA was appointed as the new administrator for ISDAFIX, with effect from August 1, 2014. IBA has been working to enhance the governance and methodology of LIBOR and ISDAFIX: New benchmark surveillance techniques and technology have been developed to monitor submitted rates. These sophisticated analytical tools bring enhanced transparency for operating the benchmark price setting process IBA established a LIBOR Oversight Committee, which now includes the participation of the Federal Reserve, the Swiss National Bank and the Bank of England As the administrator for ISDAFIX, IBA will transition the calculation methodology for ISDAFIX from a polled submission model where contributing banks submit price estimates, to a methodology based on tradable quotes posted on regulated trading venues. This evolution follows the introduction of electronic markets for interest rate swaps and is designed to align the ISDAFIX benchmark with the Principles for Financial Benchmarks published last year by the International Organization of Securities Commissions (IOSCO) OverviewICE LinkICE eConfirmParticipant ListICE Trade VaultCreditexBroker ServicesICE BlockICE Benchmark AdministrationICE LIBORISDAFIXLicensingMarket StatusHistoric Data About ICE Investors Media Careers Contact Us Subscribe Terms of Use Privacy Policy Cookies US-EU SH Statement ICE NYSE Intercontinental Exchange Twitter © 2014 Intercontinental Exchange, Inc.

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