Benchmark Regulation Resources
Bloomberg Professional Services
Benchmark Regulation Details
The UK’s Benchmark Regulation (BMR) applies to administrators, contributors and users of benchmarks in the UK from 1 January 2021, as the EU BMR was “on-shored” and now forms part of UK law.
The regulation follows-on from IOSCO’s Principles for Financial Benchmarks (IOSCO Principles) published in 2013, a set of recommended practices for benchmark administration widely embraced by industry, including by Bloomberg.
Like the IOSCO Principles, the BMR aims to establish a framework to ensure benchmarks are robust and reliable, and to minimize conflicts of interest in benchmark-setting processes.
The regulation covers indices used as benchmarks across asset classes, including fixed income, equity, interest rates, FX and commodities.
Bloomberg Index Services Limited (BISL) was authorized by the UK’s Financial Conduct Authority to conduct benchmark administration under the BMR. BISL may be found on the FCA’s register and remains available for use by EU supervised entities during the EU BMR’s transition period, as extended.
Benchmark families included within the scope of BISL’s authorization include:
Bloomberg Fixed Income Indices
Bloomberg AusBond Indices and Bloomberg NZBond Indices
Bloomberg Commodity Index
Bloomberg Currency Indices
Bloomberg’s Strategy Index offerings (both proprietary and third-party owned)
Bloomberg’s BFIX family of currency and metals fixings
Bloomberg Equity Indices
Currently not within scope is the Bloomberg Galaxy Crypto Index, the Bloomberg Galaxy Defi Index, the Bloomberg Galaxy Bitcoin Index, the Bloomberg Galaxy Ethereum Index and the CFIX crypto currency fixing, the Bloomberg Short-Term Bank Yield Index, each of which may be included at a later date. The Gender Equality Index is not administered by BISL and so also is not within scope of BISL’s authorization. Use of these indices as benchmarks within the UK is prohibited.
Please contact info@bloombergindices.com to request access to Bloomberg’s control framework summary or sample contributor code of conduct.
| Benchmark Procedures Handbook | |||
| BISL Benchmark Procedures Handbook | |||
| ESG Disclosures - Data and Standards | |||
| Bloomberg Index Services Limited Benchmark Statement ESG Disclosures: Data & Standards | |||
Additional Resources
To request a copy of Bloomberg’s complaints policy or to submit a complaint regarding a Bloomberg index or index determination, please send a correspondence to idxcomplaint@bloomberg.net or to the following postal address: Bloomberg Index Services Limited c/o Bloomberg L.P., 3 Queen Victoria Street, London EC4N 4TQ United Kingdom, Attn: Index Compliance.
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Bloomberg Index Services Limited – Modern Slavery and Human Trafficking Statement. The previous version can be found here.
To request a copy of a benchmark statement for one of our systematic strategy indices, please contact info@bloombergindices.com.
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