On 25 April 2024, the European Parliament issued a press release stating that it had adopted a first reading position on the proposed Regulation amending the Benchmarks Regulation as regards the scope of the rules for benchmarks, the use in the Union of benchmarks provided by an administrator located in a third country and certain

On 19 March 2024, the European Parliament published a report by the Committee on Economic and Monetary Affairs (ECON) on the proposed Regulation amending the Benchmarks Regulation as regards the scope of the rules for benchmarks, the use in the Union of benchmarks provided by an administrator located in a third country, and

On 11 March 2024, the European Commission published a draft Delegated Regulation amending Delegated Regulation (EU) 2022/805 as regards harmonisation of certain aspects of fees charged by the European Securities and Markets Authority (ESMA) to certain benchmark administrators. The purpose of the draft Delegated Regulation is to bring the modalities of the calculation

The European Money Markets Institute (EMMI) has concluded its public consultation on proposed enhancements to the Euribor benchmark’s methodology, with support from industry participants. The consultation, which aimed to refine the Euribor hybrid methodology, received positive responses and provided insights into the future of the benchmark.

Industry support

Launched in October 2023

On 7 November 2023, HM Treasury (HMT) published a policy paper on extending the transitional period for third country benchmarks under the UK Benchmarks Regulation.

The policy paper confirmed that the Government would be laying a statutory instrument extending the transitional period for third country benchmarks to 31 December 2030 by amending Article

On 23 October 2023, there was published in the Official Journal of the European Union (OJ) Commission Delegated Regulation (EU) 2023/2222 of 14 July 2023 extending the transitional period laid down for third-country benchmarks in Article 51(5) of the EU Benchmarks Regulation.

The Commission Delegated Regulation extends the transitional period by two years

On 17 October 2023, the European Commission (Commission) published a proposal for a review of the European Benchmarks Regulation (BMR). The proposal is part of the Commission’s broader package of measures that seeks to rationalise reporting requirements for companies across various pieces of European financial services legislation. The Commission acknowledged

On 11 October 2023, the European Money Markets Institute (EMMI) published a consultation paper (CP) on enhancements to EURIBOR’s hybrid methodology.

The consultation paper outlines EMMI’s efforts to further enhance EURIBOR’s methodology and invites feedback from market participants, interested parties and stakeholders at large.

EMMI’s commitment to maintaining the integrity and

On 31 August 2023, the FCA published Market Study MS23/1.4: Wholesale Data Market Study: Update Report.

The FCA launched the market study on 2 March 2023, following persistent user concerns about how well wholesale data markets were working. The study focuses on competition in the provision of benchmarks, credit ratings data and market data