ICE BENCHMARK ADMINISTRATION LIMITED
Company Information
- Company Number
- 08457573
- Registered Address
- Milton Gate, 60 Chiswell Street, London, EC1Y 4SA
- Status
- Active
- Employee Count
- 19
- Turnover
- £35,224,000
- EBITDA
- £9,536,000
Additional Details
- Website
- https://theice.com
- Company Type
- Private limited Company
- Incorporated On
- 22 March 2013
- Nature of Business
- 66110 - Administration of financial markets
- Industries
- Financial Services
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2024 - 31 Dec 2024 | 30 Jan 2025 | 30 | 73% | 9% | 18% | 27% |
| 01 Jan 2024 - 30 Jun 2024 | 29 Jul 2024 | 28 | 74% | 14% | 12% | 26% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 21 | 85% | 7% | 8% | 15% |
| 01 Jul 2022 - 31 Dec 2022 | 26 Jan 2023 | 29 | 72% | 19% | 9% | 28% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 36 | 71% | 9% | 20% | 29% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 34 | 72% | 6% | 22% | 28% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 35 | 66% | 9% | 25% | 28% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 29 | 71% | 12% | 17% | 18% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 41 | 65% | 14% | 21% | 24% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
30 DAYS
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
The performance figures include payments made to numerous large professional services providers which, given their nature, require detailed review before approval and payment. Accordingly these payments can contribute to a longer average number of days to pay and a higher percentage of payments due not paid within the stated payment period.
Maximum contractual payment period agreed
30
Dispute Resolution Process
Dispute resolutions are handled on a case by case basis based on individual facts and circumstances. ICE Benchmark Administration Limited seeks to resolve disputes as quickly as possible; we have a dedicated accounts payable team that support suppliers with query resolution. In the event that the accounts payable team is unable to resolve a dispute, they will refer the matter to senior management for resolution.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
❌
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
ICE BENCHMARK ADMINISTRATION LIMITED (IBA) is a leading provider of financial benchmarking services, with a strong focus on sustainability and responsible business practices. The company was founded in 2014 and is based in London, United Kingdom.
IBA's main activities involve administering and calculating financial benchmarks, including the widely used Intercontinental Exchange LIBOR (London Interbank Offered Rate). These benchmarks are used by financial institutions around the world to determine interest rates for loans, investments, and other financial products.
In addition to their benchmarking services, IBA also offers a range of sustainable products and services. This includes the ICE Global CO2e Offset Program, which allows companies to offset their carbon emissions by purchasing carbon credits from certified projects around the world. IBA also offers sustainability data and reporting services, helping companies to track and report on their environmental, social, and governance (ESG) performance.
Key people at IBA include Tim Bowler, President; Stuart Williams, Executive Vice President and Head of Benchmark Services; and Simon Collins, Executive Vice President and Chief Operating Officer.
IBA is committed to sustainability and has implemented various initiatives to reduce their environmental impact. This includes using renewable energy sources, reducing waste and promoting recycling, and encouraging sustainable practices among their employees.
The company's registered office address is 5th Floor, Milton Gate, 60 Chiswell Street, London EC1Y 4SA, United Kingdom. Their website address is www.theice.com/iba, where interested parties can find more information about their services and contact details.
