ICAP Sterling IRS SONIA Benchmark Statement

This document is a Benchmark Statement detailing the ICAP Sterling IRS SONIA Benchmark, published by ICAP Information Services Limited, also known as Parameta Solutions. It complies with the UK Benchmarks Regulation and outlines the benchmark's classification, input data, methodology, and governance principles. The statement specifies that the benchmark is categorized as non-significant and does not qualify as regulated data. It describes the process of measuring market performance and the economic reality represented by the benchmark, which is based on swap rates for Sterling transactions. The methodology section explains the design principles aimed at ensuring accurate representation and mitigating distortions in pricing. Additionally, it addresses potential changes, updates, and limitations of the benchmark, including the handling of errors and the consideration of ESG factors, noting that the benchmark does not pursue ESG objectives. The document also mentions the review and update frequency of the benchmark statement.