—Internet Service Providers (ISPs) have failed to reduce the cost of peer-to-peer (P2P) traffic. Traffic throttling devices increase user download times, and caches store content that may infringe copyright. We propose ISP-Managed P2P (IMP): a transparent peerdiscovery service that returns peers favorable to ISPs. Unlike similar services, IMP does not require the direct support of developers who have no incentive to cooperate. This paper covers the design, implementation, and experimental evaluation of our IMP prototype, which reduces costly, cross-ISP traffic by eight times without significantly increasing user download times.