Article summary
Intercontinental Exchange, Inc. (ICE) has announced that ICE Benchmark Administration Limited (IBA) has launched ICE Term SOFR Reference Rates as a benchmark for use in financial instruments by licensees. The rates are designed to measure expected (ie forward-looking) SOFR rates over one, three, six and 12-month tenor periods. They are based on a waterfall methodology, which uses eligible input data for specified SOFR-linked interest rate derivative products.
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