ICE Benchmark Admin Preps Calculation Switch for ISDAFIX Rate

Officials say new methodology will "ensure market confidence" in the integrity of ISDAFIX benchmark.

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The International Swaps and Derivatives Association appointed ICE Benchmark Administration to run the ISDAFIX benchmark─which represents average mid-market swap rates for euros, British pounds sterling and US dollars, and is used by market participants as a reference price for floating-rate bonds, and to price and settle derivatives contracts─in April last year (IMD, April 30, 2014), and IBA took over calculation duties on Aug. 1 (IMD, Aug. 4, 2014).

IBA's new calculation methodology will move f

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