On 16 December 2025, the European Securities and Markets Authority (ESMA) issued a public statement regarding transitional provisions under the Benchmarks Regulation (BMR) review.

The public statement covers:

• Pending applications by third country administrators of benchmarks: ESMA states that benchmarks in scope of the BMR provided by administrators that applied to ESMA by 31 December 2025 for recognition or endorsement can continue to be used in the EU unless such application is refused by ESMA. ESMA then sets out a table which includes the information in relation to applications for recognition and endorsement by third country administrators for which, as of the date of publication, the decision by ESMA is still pending.

• ESMA register changes under the BMR review: ESMA states that administrators of benchmarks that are already in the BMR register as authorised, registered, recognised or endorsing shall retain their status until 30 September 2026 and are not obliged to re-apply in the EU if they fall within the scope of the revised BMR on or before such date. ESMA then details those benchmarks that will fall in scope of the revised BMR.  ESMA goes on to state that this section will include in due course the list of administrators that are still included in the BMR register but, based on current information on the use of their benchmarks, are outside the scope of the BMR and will be removed from the register as of 1 October 2026, except if (1) any of their benchmarks will fall within the scope of BMR in the meantime or, (2) the EU administrator requests to opt-in one or more benchmarks that it provides and fulfil the relevant conditions.