Outcome of LIBOR-based Benchmark Cessation Consultation

Outcome of LIBOR-based Benchmark Cessation Consultation

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TP ICAP & Moorgate Benchmarks recently consulted stakeholders regarding the proposed cessation of the TP ICAP LIBOR-based GBP & CHF screens as Benchmarks regulated under the UK BMR. No dissenting opinions were received during the consultation, and therefore Moorgate Benchmarks and TP ICAP notify stakeholders that the TP ICAP LIBOR-based GBP & CHF screens will cease to be benchmarks (under the UK BMR), from the 31st December 2021.

This decision has been taken in light of the planned cessation of LIBOR as a regulated benchmark, and the consequent reduction in trading volumes seen in LIBOR-linked interest rate swaps.

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