EU's foreign benchmark equivalence rules under fire
Critics fear repeat of CCP approvals saga
Market participants fear Europe's proposed process for approving third-country indexes could be as drawn-out and politicised as its clearing house recognition framework, and could block EU entities from using common international benchmarks such as the S&P 500.
The forthcoming rules are Europe's bid to apply the broader International Organization of Securities Commissions' (Iosco) principles for financial benchmarks to a broad swath of indexes via blanket legislation. All indexes used as
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