BMR Trilogue – Cross-industry request for extension of the third country benchmarks transition period

The 14 associations representing all parts of EU financial markets endorsing this paper believe it is critically important that the transition period for third country benchmarks under Article 51 of the Benchmarks Regulation (BMR) should not be allowed to expire at the end of 2021. We urge the European Parliament and Council to agree in trilogue negotiations to extend this transition period to end of 2025, allowing time for a comprehensive review of this regime. 

For this reason we support Article 51.5 as amended by the Council General Approach on BMR.