ICE Benchmark Administration Launches the ICE Carbon Reference Entity Data Service
December 06 2022 - 7:00AM
Business Wire
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 the ICE Carbon Reference Entity Data Service (ICE CRED) to
facilitate the management of carbon credits through the trade
lifecycle.
Verified carbon credits are issued in respect of registered
projects, and are typically recorded and held in registries which
identify the number of carbon credits that are issued, retired,
canceled or converted. ICE CRED normalises, standardises,
aggregates and supplements carbon credit reference data from global
registries and assigns a unique ICE Carbon Credit Reference
Identifier (ICE CREF) to carbon credits for each project and
vintage, providing a universal reference code to facilitate their
use. ICE CRED is designed to help reduce operational risk and cost
by giving buyers and sellers of carbon credits the enhanced
reference data necessary to manage their carbon credit trading
processes.
“For nascent financial markets to scale successfully, they must
be underpinned by meaningful data standardisation, which helps to
bring predictability and transparency to their operation,” said
Clive de Ruig, President of ICE Benchmark Administration. “IBA
designed ICE CRED to provide carbon credit markets with a reliable
and rigorous reference data service that aims to significantly
improve the practicalities of analysing, trading, risk-managing and
valuing carbon credits.”
“Users of ICE CRED will benefit from IBA’s data management and
reporting framework, as well as its long-standing experience and
reputation for establishing robust governance and oversight
functions,” continued Clive de Ruig. “IBA is applying similar
rigour to ICE CRED to give the carbon credit market confidence in
the information it depends upon to effectively manage trading
operations.”
ICE CRED is designed to support the soon-to-be-published 2022
International Swaps and Derivatives Association’s (ISDA) Verified
Carbon Credit Transactions Definitions, which outline terms for the
secondary market trading of physically settled carbon credit spot,
forward and option transactions. In addition, ICE CRED aims to
support the actions set out by the International Organization for
Securities Commissions (IOSCO) to contribute to sustainability
disclosure standards benefitting issuers and investors, and to
promote well-functioning carbon markets.
ICE CRED will be available from multiple access points in a
digital standardised format via ICE’s SFTP server, ICE Chat and
ICE’s web Report Center. For more information on how to access the
service, please visit: https://theice.com/iba/ice-cred. To
subscribe to ICE CRED, please contact iba@ice.com.
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. Operating ICE
CRED is not a regulated activity.
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, 2021, as
filed with the SEC on February 3, 2022.
Category: Exchanges
ICE- CORP Source: Intercontinental Exchange
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version on businesswire.com: https://www.businesswire.com/news/home/20221206005538/en/
ICE Media Contact: Rebecca Mitchell
Rebecca.Mitchell@ice.com +44 7951 057 351
ICE Investor Contact: Katia Gonzalez
katia.gonzalez@ice.com (678) 981-3882
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