Asian administrators in denial on EU benchmarks regulation
Non-EU benchmarks have until 2020 to comply, but swaps contracts may need to change immediately
Ignorance isn't bliss: an Asifma survey found few respondents have concrete plans in place
Market participants using Asian benchmarks for derivatives instruments must start thinking now about compliance with the European Union’s financial benchmarks regulation, despite a two-year respite for administrators outside the region.
The regulation, which came into force this month, requires European market participants to use only benchmarks that are registered with European national authorities. This will prevent them using financial instruments referencing non-registered indexes. While
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