ICE Appoints Mary John Miller as Director of the ICE Benchmark Administration

Intercontinental Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (NYSE:ICE), a global web of exchanges and Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term houses, has appointed Mary John Miller its the newest director of the ICE benchmark administration (IBA).

Miller was formerly the under secretary for domestic finance at the US Treasury, and she also joins the IBA as chairperson on behalf of the nominating committee. She will serve alongside the following directors on the existing board:

• André Villeneuve, chairman of ICE benchmark administration
• Joanna Perkins, chairperson for the LIBOR oversight committee of ICE benchmark administration
• Michel Prada, chairperson of the audit and risk committee of ICE benchmark administration
• David Goone, chief strategy officer of intercontinental exchange
• Finbarr Hutcheson, president of ICE benchmark administration

The IBA serves as an independent arm of ICE that manages oversight and transparent framework. The unit itself became more widely known in 2013 when it was appointed as the administrator of LIBOR following an ongoing selection process sponsored by HM Treasury (UK) and chaired by Baroness Hog.

According to André Villeneuve, chairman of IBA, in a recent statement on the appointment, “I am delighted to welcome Mary Miller to the IBA Board. She brings with her a wealth of experience and expertise that will support the continued development of IBA and its work to increase confidence in benchmarks. She also brings a valuable U.S perspective to the Board.”