ESMA · ESMA_QA_858 Published Answer Updated

Transitional provisions applicable to third country benchmarks (ESMA 70-145-114 Q&A9.3)

Regulation
Benchmarks Regulation (BMR) - Regulation 2016/1011
Topic
Benchmarks Regulation
Submitted
2021-03-31
Answered
2023-12-15
More Q&As on this regulation →

Question

In Article 51(5) of the BMR, what does “where the benchmark is already used in the Union” mean?

Answer

ESMA considers that the meaning of the term “where the benchmark is already used in the Union” in Article 51(5) of the BMR is “where the benchmark is already used in the Union on or before 31 December 2025”.
View original on European Securities and Markets Authority ↗

This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

Similar Q&As

Transitional provisions applicable to EU index providers that provides a benchmark that has been recognised as a critical benchmark in accordance with Article 20 of the BMR (ESMA70-145-114 QAs on BMR Q&A 9.4)

Answered 2020-11-06

Transitional provisions applicable to EU index providers already providing a benchmark on 30 June 2016 (ESMA70-145-114_Q&A 9.1)

Answered 2017-07-05

Scope of the Benchmark Regulation (ESMA70-145-114 Q&As BMR - Q&A 4.7)

Answered 2021-07-29

Transitional provisions applicable to EU index providers starting to provide a benchmark between 1 July 2016 and 31 December 2017 (ESMA70-145-114_Q&A 9.2)

Answered 2017-07-05

Application of the Regulation outside the EU (ESMA70-145-114 Q&A_4.4)

Answered 2023-12-15

More Q&As on this topic

Application of the Regulation outside the EU (ESMA70-145-114 Q&A_4.4)

Answered 2023-12-15

The legal representative under Article 32(3) of BMR (ESMA70-145-114_Q&A 7.7)

Answered 2023-03-31

Readily available data

Answered 2022-06-23

Scope of the Benchmark Regulation (ESMA70-145-114 Q&As BMR - Q&A 4.7)

Answered 2021-07-29

Transitional provisions applicable to EU index providers that provides a benchmark that has been recognised as a critical benchmark in accordance with Article 20 of the BMR (ESMA70-145-114 QAs on BMR Q&A 9.4)

Answered 2020-11-06

📋 Track EU financial regulation continuously

Forseti monitors EU financial regulation and delivers personalised alerts anchored to verified official sources.

Start free trial → Learn more

14-day free trial. No credit card required.