emendrix

Art. 3

Benchmarks Regulation · 32016R1011 · every event for this act · on EUR-Lex

Definitions

4 changes recorded across 4 events, newest first.

in force 2026-01-01 MODIFIED+199 −136

Amended by Regulation (EU) 2025/914 32025R0914

applies from: unchanged

In point (17)(m) of Article 3(1), the definition of supervised entity now specifies that an administrator qualifies only if authorised or registered pursuant to Article 34, whereas the prior text simply said an administrator.

In point (24)(a)(ii) and (iii), the references identifying an approved publication arrangement, a consolidated tape provider and an approved reporting mechanism were changed from citations to Article 4(1) of Directive 2014/65/EU to citations to Article 2(1) of Regulation (EU) No 600/2014.

Cited: Art. 3, v2 · Art. 3, v1

text before / after

02016R1011-20250117 → 02016R1011-20260101

Article 3 Definitions 1. For the purposes of this Regulation, the following definitions apply: (1) index means any figure: (a) that is published or made available to the public; (b) that is regularly determined: (i) entirely or partially by the application of a formula or any … 1,127 unchanged words … Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (OJ L 201, 27.7.2012, p. 1).; (l) a trade repository as defined in point (2) of Article 2 of Regulation (EU) No 648/2012; (m) an administrator; administrator authorised or registered pursuant to Article 34; (18) financial contract means: (a) any credit agreement as defined in point (c) of Article 3 of Directive 2008/48/EC; (b) any credit agreement as defined in point (3) of Article 4 of Directive 2014/17/EU; (19) investment fund means an AIF as defined in … 688 unchanged words … and of the Council, or a regulated market considered to be equivalent under Article 2a of Regulation (EU) No 648/2012, but in each case only with reference to transaction data concerning financial instruments; (ii) an approved publication arrangement as defined in Article 2(1), point (52) (34), of Article 4(1) of Directive 2014/65/EU Regulation (EU) No 600/2014 or a consolidated tape provider as defined in Article 2(1), point (53) (35), of Article 4(1) of Directive 2014/65/EU, Regulation (EU) No 600/2014, in accordance with mandatory post-trade transparency requirements, but only with reference to transaction data concerning financial instruments that are traded on a trading venue; (iii) an approved reporting mechanism as defined in Article 2(1), point (54) (36), of Article 4(1) of Directive 2014/65/EU, Regulation (EU) No 600/2014, but only with reference to transaction data concerning financial instruments that are traded on a trading venue and that must be disclosed in accordance with mandatory post-trade transparency requirements; (iv) an electricity exchange as referred to in point (j) of Article … 501 unchanged words … Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 50(2). Where applicable, the Commission shall take into account the market or technological developments and the international convergence of supervisory practice in relation to benchmarks.

in force 2022-01-01 MODIFIED

Amended by Regulation (EU) 2019/2175 32019R2175

applies from: unchanged

In point (24)(a) of Article 3(1)(1), the word "directly" was removed from the description of how input data is contributed, so the text now reads that data is contributed entirely from the listed sources rather than entirely and directly from them.

In point (24)(a)(vii), the reference to outsourced data collection under Article 10 now adds an exception for point (f) of Article 10(3), and the requirement that the service provider receive the data "directly" from an entity referred to in points (i) to (vi) was likewise dropped, with the qualifier "of this point" added after that cross-reference.

Cited: Art. 3, v1 · Art. 3, v2

text before / after, on the event page →

in force 2021-02-13 MODIFIED

Amended by Regulation (EU) 2021/168 32021R0168

applies from: unchanged

A new definition, point (22a), was added to define a spot foreign exchange benchmark as one reflecting the price, expressed in one currency, of another currency or a basket of other currencies, for delivery on the earliest possible value date.

In point (24)(a)(i), the description of input data sources for a regulated-data benchmark was expanded to also include reference to Article 25(4) of Directive 2014/65/EU, alongside the existing reference to Article 28(4) of Regulation (EU) No 600/2014.

Cited: Art. 3, v2 · Art. 3, v1

text before / after, on the event page →

in force 2019-12-10 MODIFIED

Amended by Regulation (EU) 2019/2089 32019R2089

applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)

dates added to the text: 2016-10-05

Three new definitions, points (23a), (23b) and (23c), have been inserted between the existing commodity benchmark definition and the regulated-data benchmark definition.

Point (23a) defines an EU Climate Transition Benchmark by reference to a decarbonisation trajectory of the benchmark portfolio and construction in accordance with minimum standards to be laid down in delegated acts, point (23b) defines an EU Paris-aligned Benchmark by reference to carbon emissions alignment with the Paris Agreement objectives, construction under those same minimum standards, and a requirement that underlying-asset activities not significantly harm other ESG objectives, and point (23c) defines decarbonisation trajectory itself.

The earlier text, shown before the amendment, contained no such points and moved directly from the commodity benchmark definition to the regulated-data benchmark definition.

Cited: Art. 3, v2 · Art. 3, v1

text before / after, on the event page →