US-based IntercontinentalExchange, which oversees the UK's Libor rate, is to run a second major financial benchmark after being named to take over administration of the Isdafix rate from trade body the International Swaps and Derivatives Association.

ICE's London subsidiary, ICE Benchmark Administration, which began overseeing Libor in February, was today named as the new administrator of Isdafix from later this year.