Industry Updates

Morningstar registers as non-EU benchmark administrator under BMR

George Geddes

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Index provider Morningstar has completed its registration as a non-EU benchmark administrator under the benchmark regulation (BMR).

Morningstar has been recognised by the European Securities and Markets Authority (ESMA) as a third country benchmark administrator.

The BMR provides a common framework for benchmark regulation across the European Union.

As a non-EU benchmark administrator, Morningstar can provide its indices to be used for financial instruments, such as ETFs, by supervised entities based in the EU.

Benchmark providers, within the EU, had to be registered as a benchmark administrator, or in the process of, by 1 January 2020.

Third country benchmark administrators must be registered by 1 January 2022.

European Commission proposes changes to BMR following consultation

Ron Bundy, President at Morningstar Indexes, commented: “Our recognition under the BMR demonstrates Morningstar Indexes’ commitment to quality and transparency in index construction, and a deep understanding of index management best practices.”

Since its inception in 2002, asset value linked to Morningstar Indexes has grown to $62 billion as of 30 June 2020.

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