Refinitiv RBSL expands lineup of compliant EU BMR Indices & Benchmarks

Maria Nikolova

The company extended its administration of EU BMR compliant indices and benchmarks to include: WM/Reuters Spot, Forward and NDF benchmark rates; Thomson Reuters/CoreCommodity CRB Index; and Thomson Reuters Convertible Indices.

Provider of financial markets data and infrastructure Refinitiv has announced that Refinitiv Benchmark Services (UK) Limited (RBSL), has extended its administration of EU BMR compliant indices and benchmarks 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 underlines Refinitiv’s commitment to continually provide clients and the financial industry with transparent data and insights.

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”).

The EU BMR aims to regulate the provision of contribution to and use of a wide set of benchmarks. The purpose 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 more than 25 years of experience in designing, calculating, governing, administering and publishing financial benchmarks that are at the core of the global financial system.

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.”

“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.

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