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Financial benchmarking

Refinitiv benchmarks

We are the administrator, calculator, and publisher of more than 290 OTC benchmarks across all major asset classes.

The benchmark provider of choice

For more than a quarter of a century, we have been designing, calculating, governing, and publishing the financial benchmarks that lie at the heart of the global financial system. Our portfolio is unmatched, spanning all major asset classes and regions worldwide.

Central Banks and local authorities around the world look to us as the pre-eminent provider of financial benchmark services, whether it is by calculating a benchmark for an administrator, or assuming the responsibility for the benchmark as Administrator ourselves.

Benchmark Services

Refinitiv is the administrator of more than 30 key rates, and calculation agent for over 40 critical national and regional interest rates and FX benchmarks in 12 different countries, such as Singapore, Hong Kong and Russia.

Refinitiv assigned Refinitiv Benchmark Services (UK) Limited (‘RBSL’) to be the regulated administrator of certain benchmarks, such as those used within the EU and thus caught by the EU Benchmark Regulation (EU BMR). RBSL is authorized by the FCA, as listed on the ESMA Register, to administer benchmarks under the EU BMR.

RBSL benchmarks and indices are compliant with the European Benchmark Regulation (EU BMR).

  • Our record in end-to-end benchmark administration is proven. With a robust regulatory framework and ironclad infrastructure, we are uniquely positioned to provide benchmarks built with integrity, transparency and trust.

    Where we provide services in connection with benchmark administration, we do so in a manner that is aligned with the International Organisation of Securities Commissions (IOSCO) principles.

    We designate RBSL as the administrator of regulated benchmarks, which is approved as an authorized administrator under EUBMR by the FCA.

  • Our culture is committed to integrity.

    We are a recognized leader in efforts across the financial industry to re-establish and restore confidence in benchmark rates. We have gained a reputation in the benchmarking business which has resulted in regulators soliciting our input for reform work under way.

    • Secure, auditable and accurate collection, calculation and distribution of benchmarks based on contributions, such as Interbank offered rates, or trade based benchmarks, on behalf of administrators
    • Scrutiny and surveillance of inputs and outputs
    • Governance and administration of benchmarks
    • Secure storage of all inputs, outputs and communications (both electronic and voice) connected with benchmark calculation for later audit
    • A range of models for the implementation and administration of fee liability for benchmark data
    • Consultancy services on all the above and on the design of new benchmarks and reform of existing benchmarks align with the IOSCO principles. We continue to carry out our commitment to ensure the RBSL benchmarks are compliant with EU BMR regulation.
  • The breadth and depth of our benchmark portfolio is unmatched, spanning all major asset classes and regions worldwide.

    Refinitiv is the administrator of more than 30 key rates. We also calculate about 50 rates and publish more than 300 OTC benchmarks.

Refinitiv Benchmark Services (UK) Limited

European Benchmark Regulation (EU/BMR)

Refinitiv Benchmark Services (UK) Limited (“RBSL”) has been designated as the administrator of regulated benchmarks for Refinitiv, and is approved as an authorized administrator under EU BMR by the FCA.

Currently RBSL administers:

Announcement

Refinitiv is the administrator of numerous indices and benchmarks.

Refinitiv assigned Refinitiv Benchmark Services (UK) Limited (‘RBSL’) to be the regulated administrator of certain benchmarks, such as those used within the EU and thus caught by the EU Benchmark Regulation (EU BMR). RBSL is authorized by the FCA, as listed on the ESMA Register, to administer benchmarks under the EU BMR.

The following benchmarks have been moved to be administered by RBSL since the end of December 2019. The migration has happened therefore it’s okay for users to use them prior to the benchmark statement being published in mid-January 2020. 

  • WM/Reuters Spot, Forward and NDF benchmark rates
  • Thomson Reuters/CoreCommodity CRB® Index
  • Thomson Reuters Convertible Indices

Going forward, we will continue to carry out our commitment to EU BMR.

Note: For those benchmarks administered by a non-EU entity within Refinitiv (i.e. a third country administrator), Refinitiv has until the end of the BMR Extension Transition period (Dec 2021) to migrate those benchmarks into an authorized benchmark administrator (i.e. RBSL).

Those Refinitiv benchmarks that fall under the BMR Extension Transition period and are under consideration for migration before the end of 2021 are:

  • Tokyo Swap Rates (administered by RAPL, Refinitiv Asia Pacific Limited)
  • Thomson Reuters Local Currency Indices
  • Thomson Reuters IX Global ESG Equal Weighted Index
  • Thomson Reuters IX Global ESG High Dividend Low Volatility Equal Weighted Index
  • Thomson Reuters IX Western Europe Small & Mid Cap Index
  • Thomson Reuters GL Large/Mid D&I Ex Controversial Weapons Equal Weight Index
  • Thomson Reuters Global Equal Opportunities Select Index
  • Thomson Reuters Global Resource Protection Select Index
  • Thomson Reuters Europe Equal Opportunities Select Index
  • Thomson Reuters Country, Regional and Sector Indices
  • Thomson Reuters Diversity & Inclusion Index
  • Thomson Reuters Eurozone ESG Select Index

Refinitiv will perform further assessments to the following Refinitiv benchmarks and notify the users in later stage whether Refinitiv will migrate them by Dec 2021:

  • Refinitiv VNIBOR USD Benchmark
  • Refinitiv VNIBOR VND Benchmark
  • Refinitiv VNDFX Spot and Forward Rates
  • Refinitiv VNDFX VND Reference Rate