Rimes Launches Benchmarks Regulation Solution
Rimes Technologies introduces cloud-based Rimes RegFocus BMR Control.
The BMR aims to introduce a common framework and consistent approach to benchmark regulation across the EU. Supervised entities that use indices as benchmarks and issue financial instruments or contracts that reference an index are considered BMR users. As such, they are required to determine which of the indices they use constitute a benchmark and whether they can use those benchmarks in the EU. If any of the benchmarks are withdrawn under the regulation, firms must have a substitute benchmark
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