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Benchmark compliance

Benchmark regulations and services

We are committed to publishing independent and transparent benchmark rates, designed to be reflective of the markets.

Refinitiv Benchmarks

We are the administrator of more than 30 key rates. Our EU BMR approved entity is Thomson Reuters Benchmarks Services Limited, which is the administrator of 4 rates.

Benchmark Services

End-to-end benchmark administration

Our record in end-to-end benchmark administration is proven. 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. 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.

Restoring trust, promoting transparency in benchmark rates

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.

Our flexible service offering

  • 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 to ensure alignment with the IOSCO principles and compliance with any other global regulatory standards

The broadest benchmark coverage

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.

Thomson Reuters Benchmarks Services Limited    

European Benchmark Regulation (EU/BMR)

Thomson Reuters Benchmark Services Limited (“TRBSL”) 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 TRBSL administers:

Commitment and experience

International Organization of Securities Commissions (IOSCO) principles for financial benchmarks

We are aligned with the IOSCO Principles for Financial Benchmarks, and have been instrumental in leading the global debate on the future of benchmarking, which culminated in the IOSCO Principles.

Benchmarks administered by us are aligned with the IOSCO Principles. We have been working to ensure full observance of these principles across all benchmarks that we administer.

Features & benefits

How are we staying compliant? 

Continuously improving

We work to improve the calculation, management, and governance of our benchmarks and indices to reflect the highest standards.

Meeting regulation

We work continuously to ensure we meet all applicable regulation and industry guidance.

Raising standards

We work with clients, submitters, regulators, government agencies, and trade bodies to raise standards across the industry.

Meeting regulatory reforms

We strive to meet or exceed the requirements of global regulatory reforms.