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November 18, 2016

The European Securities and Markets Authority (ESMA) has finalised its technical advice to the European Commission on important aspects of future rules for benchmarks.

In particular, ESMA provides advice on:

  • how benchmarks’ reference values can be calculated by...

November 18, 2016

The Bank of England (BoE) has recently published a consultation paper on reforming the Sterling Overnight Index Average (SONIA) benchmark. It had conducted a similar exercise, albeit exploratory, as a public consultation in Q3-Q4 of 2015 with the objective of monitorin...

September 2, 2016

“…necessary to include a power for the relevant competent authority to require mandatory contributions from supervised entities to critical benchmarks in order to preserve the credibility of the benchmark in question.”

The systemic importance of financial benchmarks in...

August 19, 2016

The recently unveiled plan of European Money Markets Institute (EMMI) to enhance the robustness and viability of Euro Overnight Index Average (EONIA), one of the major reference rates in European money markets, is a welcome reassurance to the investors and the global e...

July 14, 2016

A highly trending and often-heard topic in the financial world is FinTech. And not surprisingly, since the very concept is based on employing disruptive technology to the challenges of the financial world, often considered as having the conventional way of doing things...

July 11, 2016

The aftershocks of financial benchmark crisis that shook the financial world not-so-long-ago are felt even today with the regulators around the world still picking up the remnants of investor confidence and nursing it back to vitality. The recent (May-2016) wave of Com...

June 25, 2016

The ink has not yet dried on the drafts of European Benchmark Regulation (Regulation) and while the markets and the industry are trying to gauge the effect of this all encompassing regulation, one thing seems increasingly evident - the benchmark regulatory practices ac...

June 13, 2016

Recap

For the better half of this decade, one could not help but hear and acknowledge the growing phenomenon ofFinancial Benchmark Reforms -an aftermath of manipulation and false reporting of global interest rate benchmarks. From the Wheatley Review in 2008 to the lates...

May 27, 2016

Regulations are an ever growing feature of modern day banking arena. The phenomenon of regulatory compliance, though is not new, has renewed implications for these financial institutions by fundamentally altering the way business is conducted. Yet, the new wave regulat...

May 21, 2016

Background

Introduced with the objective of fair competition and consumer protection in investment services, the MiFID II is grabbing headlines ever since its inception way back in 2011 - as a response to the global financial crisis. While MIFID II and MIFIR, in its ent...

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Future Rules for Financial Benchmarks

November 18, 2016

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