ICAP welcomes and adopts the IOSCO Principles for Financial Benchmarks
London, 29 July, 2014 – ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, welcomes and adopts the IOSCO Principles for Financial Benchmarks and continues to build its benchmark business based on these Principles.
ICAP’s Information Services division (“IIS”) has voluntarily adopted the IOSCO Principles for Financial Benchmarks by creating an independent management structure, and a segregated technical infrastructure for benchmark activities, which are fully independent from ICAP Group’s market operating and broking businesses. IIS operates transparent methodology and data processes for the benchmarks it administers.
As the market data and price division of ICAP Group, IIS delivers independent data solutions to financial market participants. IIS currently acts as a benchmark administrator (calculating, publishing and distributing indices) for 7 transaction-backed indices and as a data contributor (administering the submission of transaction data from various ICAP platforms) to 18 third party benchmark providers.
IIS expects to create a separate, regulated company to conduct benchmark administration, in due course.
|Serra Balls||ICAP Group Head of Communications||+44 (0) 20 7050 7103|
Notes to editors:
ICAP Information Services and its activity in relation to financial benchmarks
ICAP Information Services (IIS) is a provider of OTC market information, delivering independent data solutions to financial market participants. IIS sits within ICAP’s Post Trade Risk and Information division which provides innovative services that enable customers to reduce cost and risk, as well as to increase efficiency, return on capital and capacity to process trades.
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.