february 05, 2020
Refinitiv RBSL extends suite of compliant EU BMR Indices & Benchmarks
London/New York – Refinitiv today announced that its benchmark’s business, Refinitiv Benchmark Services (UK) Limited (RBSL), has extended its administration of EU BMR compliant indices and benchmarks, as of December 2019, to include: WM/Reuters Spot, Forward and NDF benchmark rates; Thomson Reuters/CoreCommodity CRB® Index; and Thomson Reuters Convertible Indices.
The addition of these benchmarks asserts Refinitiv’s commitment to continually provide clients and the financial industry with transparent data and insights.
Shirley Barrow, Global Head Benchmarks & Index, Refinitiv, said: “Expanding our role as a registered EU BMR administrator to cover the full suite of WMR benchmarks, convertible indices and commodity indices, provides users with the confidence and trust that these benchmarks are meeting high standards in methodology, integrity, independent oversight and scrutiny and can be used for the financial purposes as outlined in the EU BMR.”
Since 2018, the Financial Conduct Authority (FCA) has authorized RBSL as a regulated administrator of benchmarks under the EU BMR, which has included the following: WM/Reuters London 4pm Closing Spot Rates; Canadian Dollar Offered Rate (“CDOR”); Canadian Offered Repo Rate Average (“CORRA”); Saudi Arabian Interbank Offered Rate (“SAIBOR”).
“Recognizing market participants’ reliance on benchmarks parallels the importance of stringent regulatory standards. This ensures that greater transparency and trust are reflected as key criteria and benefits for our clients,” added Barrow.
The EU BMR is designed to regulate the provision of contribution to and use of a wide set of benchmarks. The aim of the legislation is to ensure the reliability of benchmarks and minimize conflicts of interest in benchmark-setting processes. EU BMR builds on the IOSCO principles for financial benchmarks and applies to any benchmark used within the EU.
Refinitiv has over 25 years’ experience designing, calculating, governing, administering and publishing financial benchmarks that lie at the heart of the global financial system. For more information about Refinitiv benchmarks, visit: https://www.refinitiv.com/en/financial-data/financial-benchmarks
Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in approximately 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community - driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime. For more information visit: www.Refinitiv.com.