ESMA_QA_858

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/858

---

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: Benchmarks Regulation

Subject Matter: Transitional provisions applicable to third country benchmarks (ESMA 70-145-114 Q&A9.3)

---

Question

Submission Date: 31 March 2021

In Article 51(5) of the BMR, what does “where the benchmark is already used in the Union” mean?

---

ESMA Answer

Answer Date: 15-12-2023

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”.

---

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