Independent practitioner’s assurance report to the directors of ICE Benchmark Administration Limited (the ‘Company’) in respect of the Company’s compliance with the EU Benchmarks Regulation (‘BMR’) and the Company’s adherence to its published benchmark methodologies, with regards to its administration and calculation of the four benchmarks for the period 1 December 2019 to 30 November 2020.
Ernst & Young LLP (‘we’ or ‘EY’) have been requested by the Company to provide you, the recipient company, firm, or organisation (‘Recipient’), with a copy of the report we prepared, on the Company’s instructions, on the Company’s report on adherence to its published benchmark methodologies and it’s compliance with EU Benchmarks Regulation (‘BMR’) with regards to its administration and calculation of ICE LIBOR, ICE Swap Rate, LBMA Gold Price and LBMA Silver Price for the period 1 December 2019 to 30 November 2020 (the ‘Report’).
The Report was prepared solely for the use of the Company and addressed issues specific to it. Accordingly, we may not have addressed issues of relevance to you. Further, the Report was concluded on 9 April 2021, and we have not undertaken any further work since that time.
Material events may therefore have occurred which will not be reflected in the Report.
Whilst we are prepared to provide a copy of the Report to the Recipients, it is only on the basis that the Recipients acknowledge and agree that:
This agreement and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales.
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For the purposes of this agreement “EY Persons” shall mean Ernst & Young LLP, any other member of the global network of Ernst & Young firms and any of their respective subcontractors, members, shareholders, directors, officers, partners, principals or employees (including but not limited to employees of Ernst & Young Services Limited). “EY Person” shall be construed accordingly.
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