ICE BENCHMARK ADMINISTRATION
Licensing & Data

ICE Benchmark Administration (IBA) provides transparent, fair and sustainable access to the benchmarks for all users. IBA licenses the use or redistribution of the benchmarks on a commercial and reasonable basis, to help set standards of fairness and transparency in benchmark distribution and licensing.

IBA benchmark data is available on a real-time, intraday or delayed basis through redistribution partners. Additionally delayed benchmark data is available free of charge on the Historical Data & Reports page. For ICE LIBOR and ICE Swap Rate, intraday data is available 4 hours after original publication time and delayed data is available 24 hours after original publication time. For LBMA Gold Price and LBMA Silver Price, intraday data is available 4 hours after original publication time and delayed data is available at midnight London time.

Clients wishing to use or redistribute IBA’s benchmarks require a license. Further information on the types of licenses available can be found below. To take a license, or to find out if one is required for your use, please use the online licensing wizard.

Licenses

There are six types of license for our benchmarks: Usage, Redistribution, Trading/Clearing, Historical Access and Derived Benchmark License. Any party involved in one of the following activities is required to take license.

  1. Usage License is required for any party that:
    • Uses IBA benchmarks in valuation and pricing activities, including (but not limited to): collateral calculations, interest rate fixings, pricing curves, discount curves and forward curves; and/or
    • Uses IBA's benchmarks as a reference rate in transactions and financial products including (but not limited to): swaps, FRAs, mortgages and loans.
  2. Redistribution License is required for any party that redistributes IBA's benchmarks to third parties, either real-time or delayed.
  3. Trading/Clearing License is required for any party that offers trading/clearing of financial contracts for which an IBA benchmark is the underlying reference, typically a trading venue or clearing house
  4. Historical Access License is required for any party wanting to access consolidated monthly historical rates files and submissions data directly from the IBA database. A Historical Access License is not required where historical data is accessed via a third party distributor or the IBA historical data page.
  5. ETP Issuer Licence (For LBMA Gold Price and LBMA Silver Price only) is required for the issuance of exchange traded products (ETPs), such as an exchange traded fund (ETF), where the benchmark serves as, or part of, the underlying reference.
  6. Derived Benchmark License (LIBOR only) is required for any party that derives an interest rate benchmark using LIBOR plus other inputs (for example FX rates).

The on-line licensing wizard is available to determine which license you require based on your intended use.

Licensing and Documentation

Click here for LBMA Gold and LBMA Silver Price licensing details

Data Vendors and Redistributors

Clients may choose to access benchmark rates from our redistribution partners. The following are market data vendors providing real-time benchmark information who have chosen to be featured on our website.

Data VendorWeb SiteICE LIBORICE Swap RateLBMA GOLD & LBMA SILVER PRICE
Bloomberghttp://www.bloomberg.com/
Class Editori S.p.A.http://www.classeditori.it  
FastMarketshttp://www.fastmarkets.com/  
ICE Data Serviceshttps://www.theice.com/market-data
Proquotehttp://www.proquote.com/  
Quickhttp://www.quick.co.jp/  
SIX Financial Informationhttp://www.six-financial-information.com/
SunGardhttp://www.sungard.com/marketmap 
Thomson Reutershttp://www.thomsonreuters.com/
vwd Vereinigte Wirtschaftsdienstehttp://www.vwd.com/  

The data vendor codes (including RICs) are available here.

Additional Access Options for ICE LIBOR

All of IBA's benchmarks can be accessed from redistributors and data vendors. For historical continuity, clients with a license for LIBOR have two additional options for accessing the rates:

  • IBA's MFT service
  • IBA's daily email distribution

MFT Service

  • Licensed clients are able to download LIBOR rate information from ICE MFT servers at time of publication (around 11:55am London time)
  • Files are published in FIXML format with one file for each currency
  • Clients are also able to access historical LIBOR rates files, going back to 1st June 2004
  • In order to set up access to this service, clients are required to generate SSH keys and provide these to: IBA-Licensing@theice.com
  • MFT Connectivity rules can be accessed here

E-mail Service

  • Licensed clients can choose to subscribe to the ICE LIBOR e-mail service. Files are attached to the email in FIXML format with one file for each currency
  • Although every effort is made by IBA to provide the email service in a timely manner each day, clients for whom access to the rates is time-critical should use a data vendor or IBA's MFT service
  • In order to set up access to this service, clients are required to provide an email address(es), to which the data should be sent, to: IBA-Licensing@theice.com

Technical Documentation

Sample Files - ICE LIBOR

ICE LIBOR rates files are in FIXML format. Sample files are provided to help clients in setting up their systems.

Sample Files - ICE Swap Rate

Sample Files - LBMA Gold and LBMA Silver Price

Visit the LBMA Gold and Silver Price page for sample files

Note: Clients may find it easier to view the contents of the FIXML file using Microsoft Excel to tabulate the data into headed columns. To do this, save the file to your computer, then drag and drop the file onto an open Microsoft Excel window and select 'As an XML table' when presented with the 'Open XML' dialogue box (you may need to click 'OK' again if asked whether to create a schema based on the XML source data).