On August 11, 2022, ISDA submitted a response to the European Commission’s consultation on reforming the EU Benchmarks Regulation (BMR). In its response, ISDA highlights that without significant reform, the BMR could expose benchmark users in the European Union (EU) to the threats that BMR was intended to protect them from, putting them at a competitive disadvantage to users of benchmarks in other jurisdictions. The response details a number of proposals to reform the third country regime including; making compliance mandatory for EU and third country ‘systemic’ benchmarks only; creating a voluntary regime for all other EU and third country benchmarks; reforming the prohibition on use of non-compliant systemic benchmarks; improving end-user visibility of which benchmarks are compliant; and removing uncertainty regarding key BMR provisions. Further information on the problems with the BMR and ISDA’s proposals can be found in the briefing paper: The Importance of Reforming the EU Benchmarks Regulation published on August 11, 2022.
Documents (1) for ISDA Responds to EC’s BMR Consultation
Latest
ISDA Wins Regulation Asia Award
ISDA has been awarded Outstanding Contribution to Regulatory Reform for the ISDA Digital Regulatory Reporting (ISDA DRR) initiative by Regulation Asia at its eighth annual Awards for Excellence. The ISDA DRR helps market participants comply with regulatory reporting requirements by...
New Paper on Industry Perspectives on the ISDA DRR
ISDA has published a new paper in conjunction with Capgemini that gives industry perspectives on the ISDA Digital Regulatory Reporting initiative (DRR). The paper, which is based on interviews with firms that have adopted the ISDA DRR, explores the approaches...
Industry Perspectives on the ISDA DRR
This report examines how financial institutions are adopting the ISDA Digital Regulatory Reporting (DRR) solution, a standardized and open-access initiative built on the Fintech Open Source Foundation (FINOS) Common Domain Model (CDM). Drawing on insights from structured interviews with industry...
ISDA Guidance – Delayed CPI-U Due to Government Shutdown
On November 7, 2025, ISDA published guidance addressing the potential delay in the release of the U.S. Consumer Price Index for All Urban Consumers (CPI-U) resulting from the current U.S. government shutdown. The guidance provides clarification on how such delays...