ESMA_QA_858
31/03/2021
Subject Matter
Transitional provisions applicable to third country benchmarks (ESMA 70-145-114 Q&A9.3)
Original question
In Article 51(5) of the BMR, what does “where the benchmark is already used in the Union” mean?
ESMA Answer
15-12-2023
Original language
ESMA considers that the meaning of the term “where the benchmark is already used in the Union” in Article 51(5) of the BMR is “where the benchmark is already used in the Union on or before 31 December 2025”.
Status: Published Answer Updated
Additional Information
Level 1 Regulation
Benchmarks Regulation (BMR) - Regulation 2016/1011
Topic
Benchmarks Regulation