Ice’s Sprecher criticises Libor replacement push

Exchange head says overnight rates cannot replace term benchmarks

risk0114-jeff-sprecher-equity-derivatives-house
Jeffrey Sprecher, Ice

A global effort to replace term Libor benchmarks with overnight rates could face resistance from market participants, the head of the Intercontinental Exchange has warned.

“There are trillions of dollars of loans and agreements and all kinds of infrastructure that are benchmarked to predominantly three-month and one-year Libor,” said Jeffrey Sprecher, chairman and chief executive of Ice. “The substitute the Europeans and US have come up with is an overnight rate, and so the substitute doesn’t

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: