ESMA_QA_747

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/747

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Regulatory Context

Regulation : BMR

Level 1 Regulation: Benchmarks Regulation (BMR) - Regulation 2016/1011

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Third-Country Regimes

Subject Matter: Family of benchmarks in the application for endorsement (ESMA70-145-114_Q&A 7.2)

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Question

Submission Date: 31 March 2023

Can a single application for endorsement include family of benchmarks?

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ESMA Answer

Answer Date: 26-09-2018

Yes. ESMA is of the view that BMR Article 33(1) on “endorsement” grants administrators and other supervised entities the right to provide the relevant NCA with a single application for a family of benchmarks but that the applicant needs to disclose all members thereof. This is to ensure that the NCA can submit to ESMA a list of all endorsed benchmarks to allow ESMA to publish in its register all information required by BMR Article 36(1). At the same time, ESMA considers that administrators do not have to apply anew whenever benchmarks change within the endorsed family. Instead, the endorser should notify the NCA and demonstrate e.g. why a new benchmark would belong to an endorsed family.

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This document was automatically extracted from the ESMA EMIR Q&A database.