Database on German and European Economic Law

 Regulation (EU) No 2016/2021

I. Description

Regulation (EU) No 600/2014 provides for the non-discriminatory access for clearing and trading between central counterparties (CCPs) and trading venues, including access to licences of and information relating to benchmarks which are used to determine the value of some financial instruments for trading and clearing purposes. Given the variety of benchmarks, the information CCPs and trading venues need for clearing or trading purposes may vary depending on a number of factors, including the relevant financial instrument being traded or cleared and the type of benchmark that the financial instrument references. Therefore, CCPs and trading venues should be allowed to request access to any information, provided it is required for clearing or trading purposes.

The way a benchmark is assessed as new or not will vary on a case by case basis. The person with proprietary rights to a benchmark should therefore demonstrate in what way that benchmark is new, if that is invoked as the reason for denying immediate access. Each assessment of a declared new benchmark should consider a combination of various factors and their appropriate weightings and not rely on a single factor to assess whether or not the benchmark meets the criteria specified in Regulation (EU) No 600/2014.

II. General Information

Title

Commission Delegated Regulation (EU) 2016/2021 of 2 June 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on access in respect of benchmarks

Status
Existing
Regulation
(EU) No 2016/2021
Source
O.J. EU No L (Legislation), Edition 313, Year 2016, p.6-10
Adoption
06/02/2016
Promulgation
11/19/2016
Character
Lamfalussy Implementing Act
Framework Act
 Regulation (EU) Nr. 600/2014

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text :
Commission Delegated Regulation (EU) 2016/2021 of 2 June 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on access in respect of benchmarks

  (EU) No 2016/2021

Beschluss:
06/02/2016 (A)
Verkuendung:
11/19/2016 (P)
(A) Adoption | (P) Promulgation

Legend

Legislative Act Status

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions