Access to accurate, reliable information is essential to the integrity and everyday functioning of the world’s markets and the business communities they support. Trusted benchmark data across all asset classes, from interest rates to commodities, is key to making informed decisions that have a global impact. It’s how loans and mortgages are calculated and the way jewelers and gold refiners determine the price of gold for their buyers.
As the world’s most experienced administrator of regulated benchmarks, we’re leading benchmark reform and transitioning benchmarks to a new era where high standards and integrity help market participants make better decisions. Today we’re responsible for building and protecting important world benchmarks.
How We’re Reforming Leading World Benchmarks
As we reform some of the world’s most important benchmarks, we implement new systems and technology that enhance transparency and help to protect against manipulation so that each of the benchmarks we administer acts as a trusted economic indicator.
Our benchmark reforms include:
Through investing in and applying these reforms, we’ve:
Improved the transparency and effectiveness of ICE LIBOR
Transformed the LBMA Gold Price and ICE Swap Rate
DEVELOPED THE ISDA SIMM (STANDARD INITIAL MARGIN MODEL) CROWDSOURCING FACILITY
Our role as LBMA administrator extends beyond the daily production of the benchmark price and into benchmark credibility and integrity.
IBA’s Finbarr Hutcheson outlines how new technology and oversight are restoring trust and ensuring market participants can use benchmarks with confidence.
IBA combines robust regulatory and governance frameworks with advanced technology to bring credibility and trust to globally important benchmarks. IBA, which is independently capitalized, is authorised and regulated by the Financial Conduct Authority (FCA) in the UK. IBA is required to comply with the FCA’s rules for benchmark administrators and has also been formally assessed in respect of ICE LIBOR against the IOSCO Principles for Financial Benchmarks.