Benchmarks Regulation

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Regulation (EU) 2016/1011 of the European Parliament and of the EU Council of 2016.

The Benchmarks Regulation relates to indices used:

  • As benchmarks in financial instruments and financial contracts or
  • To measure the performance of investment funds.

The Benchmarks Regulation imposed new requirements on firms that provide, contribute to or use a wide range of interest rate, currency, securities, commodity and other indices and reference prices.

Most of the new rules apply with effect from 1 January 2018, but some provisions relating to critical benchmarks were brought into effect earlier.

The rules present a significant implementation challenge, particularly where EU firms reference non-EU benchmarks in securities or derivatives, or use them in the management of investment funds.

See also