Friday September 28 2018
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: European Union
Link: https://bit.ly/2xW3ElE
The European Securities and Markets Authority (ESMA) has recently updated its Questions and Answers (Q&As) on the Benchmarks Regulation (BMR).
The updated BMR Q&As provide new clarifications regarding the following topics:
- When the written plan should be produced by users of benchmarks and how such plans should be reflected in the contractual relationship with clients;
- The reference to systematic internaliser in the definition of financial instruments;
- When banks issuing certificates classify users of benchmarks;
- Why NAV of investment funds should be considered input data and not benchmarks;
- The application for endorsement of family of benchmarks;
- The language of benchmark statements.
The Q&As aims to promote common supervisory approaches and practices in the application of BMR. It aims at providing investors and other market participants with clarifications on the applicable requirements. To view ESMA’s Q&A please click here.
For further information please click on the link above.