Moorgate Benchmarks has been appointed by TP ICAP, a provider of market infrastructure and the world’s largest interdealer broker active in the world’s financial, energy and commodities markets, as the independent administrator of a number of its ISDA-referenced interest rate swap (IRS) benchmarks.Moorgate Benchmarks will administer twenty, ISDA-referenced, IRS benchmarks on behalf of TP ICAP across both its ICAP and Tullett Prebon brands, ensuring full compliance with the EU Benchmarks Regulation and meeting the highest standards of accuracy, integrity and governance.
Martin Lynch, Regional Head of Global Broking EMEA and COO Global Broking at TP ICAP, says: “Sourcing liquidity for our clients efficiently and effectively across multiple asset classes and regions demands that we maintain governance and compliance best practice. Our partnership with Moorgate Benchmarks provides clients with assurance that our ISDA-referenced rates are fully compliant with the EU Benchmarks Regulation, whilst further strengthening our governance processes.”
Tobias Sproehnle, Chief Executive Officer of Moorgate Benchmarks, says: “TP ICAP is a leading firm in wholesale financial markets and is highly regarded for its data and benchmark offerings. We are proud to have been selected as their independent benchmark administrator to ensure that TP ICAP’s benchmarks continue to reflect best practices and rigorous governance standards in an evolving and increasingly complex regulatory landscape. We look forward to working with TP ICAP to set the industry standard for IRS benchmarks.”