Cboe gets green light for benchmark administrator position in Europe

Market participants can use the exchange group’s benchmarks within the EU BMR regulatory framework.

Cboe Global Markets has gained regulatory approval to act as a benchmark administrator under EU regulation.

The exchange group was registered in the position on 5 March meaning its suite of European indices are compliant with Europe’s Benchmarks Regulation (BMR).  

“We have long advocated for increased competition in the benchmark index market and in 2016 we launched a European indices business to bring competition, choice and transparency to this segment of the market,” said Adam Eades, chief legal and regulatory officer for Cboe Europe.

“We believe the EU BMR brings a common framework and consistent approach to benchmark regulation across the EU.”

As an administrator, Cboe Europe is required to implement high standards of governance, oversight and transparency for the provision of its indices so that market participants can use the exchange’s benchmarks within the regulatory framework.

Cboe launched its European indices service in June 2016 and has since added various new indices providing full index coverage across the region.