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ESMA updates CRR standard on main indices and recognised exchanges

29 January 2016

The European Securities and Markets Authority (ESMA) has its Implementing Regulatory Standard (ITS) on main indices and recognised exchanges under the Capital Requirements Regulation (CRR). 

In order to introduce updates to the ITS, ESMA has issued today an opinion detailing the proposed changes which it has sent for endorsement to the European Commission. The CRR requires the ESMA to define main indices and recognised exchanges as these are used in the specification of eligible collateral which in turn is important for the calculation of credit risk by the credit institutions and investment firms to which the CRR applies.

 

ESMA suggests adding the Russell 1000 Index, the Shanghai Shenzhen CSI 300, the S&P BSE 100 Index and the FTSE Nasdaq Dubai UAE 20 Index to the list of main equity indices. ESMA also suggests replacing the Nikkei 225 with the Nikkei 300

and the NZSE 10 with the S&P NZX 15 Index. But ESMA is of the opinion that the Hang Seng Composite Index and the Russell 3000 Index should not be added to the list of main equity indices.

 

Further, ESMA has also assessed the complete lists of main indices and recognised exchanges submitted in the ITS draft of 29 January 2015 and provides the European Commission with a number of necessary updates.