Benchmarks Regulation Q&As Updated by ESMA


On July 17, 2018, The European Securities and Markets Authority (“ESMA“) published an updated version of its Q&As on the implementation of the Regulation on indices employed in financial instruments and financial contracts or to measure the performance of investment funds ((EU) 2016/1011) (Benchmarks Regulation or BMR) (ESMA70-145-11, version 8).

Two key amendments include the definitions of calculation agent and regulated data benchmark.

The Q&As were first published by ESMA in July 2017 and were previously updated in May 2018.