Intercontinental Exchange Confirms End of US Dollar LIBOR by September 2024, Says FCA
Portfolio Pulse from Benzinga Newsdesk
Intercontinental Exchange, Inc. (ICE) has confirmed the cessation of U.S. dollar LIBOR by September 2024, as announced by the U.K. Financial Conduct Authority. The FCA will not compel ICE Benchmark Administration to continue publishing synthetic U.S. dollar LIBOR settings beyond this date.
September 09, 2024 | 9:03 am
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NEUTRAL IMPACT
Intercontinental Exchange (ICE) will cease publishing U.S. dollar LIBOR settings by September 2024, following FCA's decision not to compel continuation. This marks a significant regulatory change impacting financial markets.
The cessation of U.S. dollar LIBOR is a regulatory decision that affects ICE's role in financial markets. While it marks a significant change, the impact on ICE's stock price is neutral in the short term as the market has been preparing for LIBOR's end.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100