Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that ICE Benchmark Administration Limited (IBA) has launched its U.S. dollar SOFR ICE Swap Rate® for use as a benchmark in financial contracts and financial instruments by licensees.

The launch of the U.S. dollar SOFR ICE Swap Rate benchmark follows the successful publication of U.S. dollar SOFR ICE Swap Rate settings on an indicative, ‘Beta’ basis since October 1, 2021.

“We are launching SOFR ICE Swap Rate today to help the U.S. dollar non-linear derivatives market in its ongoing transition to SOFR”, said Tim Bowler, President of ICE Benchmark Administration.

The U.S. dollar SOFR ICE Swap Rate settings are available for the same tenors and published at the same time as the current U.S. dollar LIBOR ‘1100’ ICE Swap Rate benchmark. They are available here alongside IBA’s other ICE Swap Rate benchmark runs covering Euro, Sterling and U.S. dollar currencies in tenors ranging from one to 30 years. U.S. dollar SOFR ICE Swap Rate settings are determined in accordance with the published ICE Swap Rate ‘Waterfall’ methodology, using eligible input data in respect of SOFR-linked interest rate swaps.

The settings are being provided for use as a benchmark by licensees on and subject to the terms of their current U.S. dollar ICE Swap Rate licensing agreements.

IBA continues to publish indicative, ‘Beta’, U.S. dollar SOFR Spread-Adjusted ICE Swap Rate settings, determined in line with the methodology suggested by the Alternative Reference Rates Committee (ARRC) in its paper “Suggested Fallback Formula for the USD LIBOR ICE Swap Rate”, for an initial testing period. These settings are being provided solely for information and illustration purposes in order to enable recipients to evaluate the settings and provide feedback, and are not intended for, and IBA expressly prohibits their use for, any other purpose, including as a reference, index or benchmark in financial instruments, financial contracts, or investment funds. IBA will announce in due course when the U.S. dollar SOFR Spread-Adjusted ICE Swap Rate settings will be made available for use in financial contracts and financial instruments.

About ICE Benchmark Administration

ICE Benchmark Administration is authorized and regulated by the Financial Conduct Authority for the regulated activity of administering a benchmark, and is authorized as a benchmark administrator under the UK Benchmarks Regulation. IBA reserves all rights in the ICE Swap Rate methodology and the ICE Swap Rate settings, including the U.S. dollar SOFR ICE Swap Rate and ‘Beta’ U.S. dollar SOFR Spread-Adjusted ICE Swap Rate settings. ICE, ICE Swap Rate and ICE Benchmark Administration are trademarks of IBA and/or its affiliates. IBA is not affiliated with the New York Fed. The New York Fed does not sanction, endorse, or recommend any products or services offered by IBA.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.

ICE- CORP

Source: Intercontinental Exchange

ICE Media Contact: Rebecca Mitchell Rebecca.Mitchell@ice.com +44 7951 057 351 ICE Investor Contact: Mary Caroline O’Neal marycaroline.oneal@ice.com (770) 738-2151

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