ICE Announces End of LIBOR Publishing After September 2024

Intercontinental Exchange (ICE) confirmed the cessation of LIBOR settings post-September 30, 2024. This marks a significant regulatory development that may impact financial contracts and instruments relying on LIBOR benchmarks.

Date: 09-09-2024

AI Rating: 5

Intercontinental Exchange (ICE) is facing a significant regulatory change as the U.K. Financial Conduct Authority has confirmed that ICE Benchmark Administration will no longer publish the 1-, 3-, and 6-Month "synthetic" U.S. dollar LIBOR settings after September 30, 2024.

This decision means that these final three LIBOR settings will cease publication, impacting a vast array of financial instruments and contracts that have been pegged to these benchmarks. Such changes can lead to increased volatility in interest rates and affect pricing strategies across markets. Users of LIBOR will need to seek appropriate legal and regulatory advice to prepare for these changes.

The cessation of LIBOR could have broader implications for various financial entities that rely on these benchmarks, although specific metrics such as Earnings Per Share (EPS), Revenue Growth, and others mentioned earlier are not detailed in the text.

Overall, the implications of this news could result in some negative sentiment towards stocks heavily reliant on LIBOR benchmarking. The reactions might vary depending on how companies adapt to this regulatory change.

Stocks: ICE