Consultation on Principles for Benchmarks-Setting Processes in the EU

Consultation on Principles for Benchmarks-Setting Processes in the EU

from 11 January 2013 to 15 February 2013

Details

In response to concerns regarding the perceived weaknesses in current arrangements for benchmark rate-setting, ESMA and the EBA have also developed a set of Principles to address the activities of reference-rate and other benchmark providers, administrators, publishers and market participants who submit data.The Principles are designed as a first step towards a potential formal regulatory and supervisory framework for benchmarks to be developed in the EU and also take into account other international efforts in this field.The proposed Principles include a general framework for benchmarks settings (calculation methodology, governance, supervision, transparency of the methodology, contingency plans, etc.).  They also provide guidance to firms involved in benchmark data submissions and to benchmark administrators, calculation agents, publishers and users.The deadline for submission of responses to this consultation is 15 February 2013.

2 RELATED DOCUMENTS
Documents available for this Consultation
DateReferenceTitleDocument
11/01/20132013/13ESMA and the EBA take action to strengthen Euribor and benchmark rate-setting processes
11/01/20132013/12Principles for Benchmarks-Setting Processes in the EU

Responses

Operations
Activity Institution Download
ICE Futures Europe
WMBA & LEBA
CME Group Inc.
Eurex
Argus Media Ltd
NYSE Euronext
ICAP
BME - Spanish Exchanges
NASDAQ OMX
CFA Institute
Bundesverband der Deutschen Volksbanken und Raiffeisenbanken - National Association of German Cooperative Banks
Asset Management EFAMA
Asset Management BLACKROCK
Asset Management Amundi
Asset Management Vanguard Asset Management, Limited
Asset Management BVI Bundesverband Investment und Asset Management
Asset Management Investment Management Association
Asset Management ICI Global
Asset Management Russell Investments
Banking AFMA
Banking ESBG ( European Savings Banks Group)
Banking The Association for Financial Markets in Europe (AFME)
Banking Austrian Economic Chamber
Banking Danish Bankers Association
Banking Czech Banking Association
Banking German Banking Industry Committee
Banking Swedish Bankers´ Association
Banking Intesa Sanpaolo S.p.A.
Banking European Association of Co-operative Banks (EACB)
Banking Association of German Pfandbrief Banks
Banking UniCredit
Banking European Association of Public Banks, EAPB
Banking Fédération Bancaire Française (FBF)
Banking The Luxembourg Bankers' Association (ABBL)
Banking ING Bank
Banking Deutsche Bank
Banking Global Financial Markets Association
Banking BANCO SANTANDER
Government, Regulatory and Enforcement CNMV's Advisory Committee
Insurance and Pension German Insurance Association (GDV)
Investment Services State Street Corporation
Investment Services S&P Dow Jones Indices
Issuers Association of Corporate Treasurers
Issuers European Structured Investment Products Association (EUSIPA)
Legal and Accountancy Institute of Chartered Accountants of England and Wales
Press ICIS Media
Others Index Industry Association
Others ISDA
Others STOXX Limited
Others Danish Shareholders Association DAF
Others European Central Bank
Others EuroFinUse, the European Federation of Financial Services Users
Others ICMA
Others Rate Validation Services
Others Platts
Others Association Française de la Gestion financière (AFG)
Others Af2i Association Française des Investisseurs Institutionnels
Others Euribor-EBF
Others Dutch Investors'Association
Others European Federation of Energy Traders (EFET)
Others Thomson Reuters
Others Markit
Others Investment Property Databank LTD
Others MSCI Inc.
Others EDHEC-Risk Institute
Regulated markets, exchanges & trading systems London Stock Exchange Group
Regulated markets, exchanges & trading systems Federation of European Securities Exchanges