The European Union’s regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (BMR) entered into force on 30 June 2016 with most of the provisions applying from 1 January 2018, subject to a two-year transition period ending 1 January 2020.
Bloomberg Index Services Limited (with its affiliates, Bloomberg) has closely monitored and supported the development of the BMR.
The regulation follows-on from IOSCO’s Principles for Financial Benchmarks (IOSCO Principles) published in 2013, a set of recommended practices for benchmark administration widely embraced by industry, including Bloomberg. For our externally reviewed statements of alignment with the IOSCO Principles for the Bloomberg Commodity index (BCOM), the UBS Bloomberg CMCI index family (CMCI), the AusBond and NZBond index family (AusBond) and the Currency Indices, please click here. Please click here for the BFIX currency and metal fixings report. For Bloomberg’s statement of compliance with the IOSCO Principles for the Bloomberg Barclays Indices, please click here.
Like the IOSCO Principles, the BMR aims to establish a framework to ensure benchmarks are robust and reliable, and to minimize conflicts of interest in benchmark-setting processes.
Bloomberg anticipates that BCOM, CMCI, AusBond, Currency, BFIX and the Bloomberg Barclays fixed income indices, including custom sub-indices, will be among those available for use by EU supervised entities in accordance with the BMR during the transition period and following authorization.
To request an FAQ with further details regarding Bloomberg’s plans for BMR authorization and implementation, please contact firstname.lastname@example.org.
Please contact email@example.com to request access to Bloomberg’s control framework summary or sample submitter code of conduct.