use of a benchmark

Definitions over time (1)

1. 30/06/2016 – 10/12/2019 Article 3, Benchmark Regulation (BMR) Scope: Whole act

   1. For the purposes of this Regulation, the following definitions apply:

   ‘use of a benchmark’ means: issuance of a financial instrument which references an index or a combination of indices; determination of the amount payable under a financial instrument or a financial contract by referencing an index or a combination of indices; being a party to a financial contract which references an index or a combination of indices; providing a borrowing rate as defined in point (j) of Article 3 of Directive 2008/48/EC calculated as a spread or mark-up over an index or a combination of indices and that is solely used as a reference in a financial contract to which the creditor is a party; measuring the performance of an investment fund through an index or a combination of indices for the purpose of tracking the return of such index or combination of indices, of defining the asset allocation of a portfolio, or of computing the performance fees;

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