ICAP Adopts IOSCO Principles for Financial Benchmarks

ICAP plc. ("ICAP"), a markets operator and provider of post-trade risk services, announced that it adopted the IOSCO Principles for Financial Benchmarks ("Principles"), stating that it will continue to build its own benchmark business based on these Principles. According to ICAP, its Information Services division ("IIS") adopted the Principles by creating an independent management structure and a segregated technical infrastructure for benchmark activities, which are independent from ICAP's market operating and broking businesses.

IIS currently acts as a benchmark administrator for seven transaction-backed indices, as well as a data contributor to 18 third-party benchmark providers. IIS stated that it expects to create a separate, regulated company to conduct benchmark administration in the future.