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EU benchmark rules could split markets further

Dec 01, 2018 - The Banker

RAGE-OMETER WHAT IS HAPPENING? The EU's benchmarks regulation (BMR), which goes fully live on January 1, 2020, comes with an onerous set of obligations that are designed to make benchmarks more robust and trustworthy.

Benchmarks are extremely important to the global financial system, acting as references to just about every asset class, including derivatives, and are used not only by the likes of banks and asset managers but also corporates and government authorities looking to hedge inter...