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It then averages the rest, before publishing the LIBOR rate, on behalf of the BBA.
On the basis of the submissions, financial firm Thomson Reuters calculates the Libor rate on behalf of the BBA, and it is released to the financial markets.
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The former ICAP employees used two tactics to manipulate the rates on behalf of the UBS trader, according to American and British regulators.
Federated Media, which is a sort of Web talent management company, is more selective, negotiating rates on behalf of independent content creators it agrees to represent.
A spokesman for the LGA said: "The LGA is supporting member councils who have received applications for mandatory relief from business rates on behalf of a number of NHS trusts and are working with them to consider the appropriate response.
By this week in 1999 and 2000, the process to determine prices for 30-second spots in prime-time programs had pretty much been completed, with agencies agreeing to pay record rates on behalf of their advertiser clients.
Travel management companies are in the midst of negotiating next year's hotel and airline rates on behalf of their corporate clients, an annual ritual that was thrown into turmoil last fall when the economy collapsed, dragging down business travel with it.
Performing rights societies like Ascap and BMI usually negotiate rates on behalf of publishers, but at the beginning of this year Sony withdrew its digital rights from these groups, forcing licensees like Pandora to deal with Sony directly.
On Tuesday, the State Assembly passed legislation that would allow the state to step in and buy power at cheaper rates on behalf of the beleaguered utilities, a bill put together, in theory, to appease all parties, including the utilities and the power generators.
More relevant still is the timing; this announcement of a Government-sponsored price hike arrives just one week after the Energy Secretary chastised suppliers for raising prices via his proposal to somehow magically cap domestic rates on behalf of the consumer.
Last year the National Cable Television Cooperative, which negotiates rates on behalf of 950 small cable companies, successfully fought Viacom for attempting to raise the rates it charges for its popular MTV network.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com