February 2024

FTSE Russell’s Commitment to the
EU Benchmark Regulation
And Next StepsFTSE Russell’s commitment to the EU and UK BMR
London Stock Exchange Group (“LSEG”) is a leading global financial markets infrastructure and data provider, trusted to deliver
excellence by customers, partners and markets around the world. We play a vital social and economic role in the world’s financial
system. With our trusted expertise and global scale, we enable the sustainable growth and stability of our customers and theircommunities.
LSEG offers benchmark and index solutions through FTSE Russell. FTSE Russell is a global index provider of benchmarks,
analytics, and data with capabilities across asset classes. FTSE Russell’s indices are used by clients to inform asset allocation
decisions, support portfolio construction and conduct risk and performance analysis. FTSE Russell has two authorised benchmark
administrators:••

FTSE International Limited (“FIL”) is authorised in the UK by the FCA under the UK Benchmark Regulation (“UK BMR”);andRBSL is authorised in the UK by the FCA under the UK BMR and designated as a benchmark administrator for CDOR
under the Canadian Securities Administrators Benchmark Rule (“CSA Benchmark Rule”) and Ontario Securities
Commission Rule 25-101 (“OSC Rule”). For the list of benchmarks currently administered by RBSL please visit FTSE
Russell benchmarks (the “RBSL Benchmarks”).

FTSE Russell has long been committed to publishing independent and transparent benchmark rates which are designed to bereflective of the markets. The European Benchmark Regulation (“EU BMR”), which took effect in January 2018, is consistent withthese values, as is the onshored UK BMR since 1 January 2021. RBSL was originally authorised under the EU BMR in July 2018
and is now authorised under the UK BMR.
FTSE Russell remains committed to both the EU and UK BMR and the scope of benchmarks that are currently administered by
RBSL can be found here.

RBSL’s authorised status under the EU and UK BMR
Since authorisation in 2018, RBSL had been listed on the ESMA Register for benchmark administrators. Following ESMA’s publicstatement on 1 October 2020, all UK based benchmark administrators (including RBSL) were removed from the ESMA register after
31 December 2020 and became non-EU benchmark administrators under the EU Benchmark Regulation (‘EU BMR’).
This authorised status under the EU BMR does not affect RBSL’s authorisation with the UK FCA as a UK benchmark administrator,
and RBSL appears on the UK FCA Register. Following the FCA’s public statement on 1 December 2020, and since 1 January 2021,
all UK based benchmark administrators (including RBSL) have been listed on the FCA’s UK Benchmarks Register.

FTSE Russell’s Commitment to the EU Benchmark Regulation

Third country transition provisions and EU access pathways
Both the EU BMR and UK BMR provide third country transition periods during which third country (non-EU and non-UK,
respectively) administrators can continue providing benchmarks for use by EU and UK supervised entities, respectively. Currently,
the EU BMR and UK BMR transition periods are due to expire after 31 December 2025 and 2030, respectively.
RBSL is part of an international group, and we remain fully committed to providing a seamless service to our clients given our global
reach and significant infrastructure in a number of geographies across the UK, Europe, United States and Asia.

Next steps
FTSE Russell indices, not administered by RBSL nor FIL, that currently make use of the EU BMR and UK BMR third country
transition provisions continue to be assessed as potential candidates to be in scope of, and fully compliant with the EU BMR and UK
BMR. Where deemed necessary these indices will continue to be made available for use both in the EU and UK prior to the
expiration of the third country transition provisions. FTSE Russell will notify users at a later stage once these assessments havebeen completed and the next steps have been determined.
Please note that reference rates and indicative data points are not BMR compliant nor currently planned to be made BMR compliant.

Further information
We will remain closely engaged with clients and will release further information to help our clients understand how FTSE Russell isapproaching the expiration of the EU and UK BMR third country transition provisions, including RBSL’s regulated status under the
EU BMR. Find more information please visit FTSE Russell benchmarks.
For more information, please contact your LSEG Account Manager or send us an email via EUBMR1@lseg.com.

FTSE Russell

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ABOUT FTSE RUSSELL
FTSE Russell is a leading global provider of index and benchmark solutions, spanning diverse asset classes and investment objectives. As a trusted
investment partner we help investors make better-informed investment decisions, manage risk, and seize opportunities.
Market participants look to us for our expertise in developing and managing global index solutions across asset classes. Asset owners, asset
managers, ETF providers and investment banks choose FTSE Russell solutions to benchmark their investment performance and create investment
funds, ETFs, structured products, and index-based derivatives. Our clients use our solutions for asset allocation, investment strategy analysis andrisk management, and value us for our robust governance process and operational integrity.
For over 35 years we have been at the forefront of driving change for the investor, always innovating to shape the next generation of benchmarks
and investment solutions that open up new opportunities for the global investment community.
CONTACT US
To learn more, visit lseg.com/ftse-russell; email info@ftserussell.com; or call your regional Client Service team office:
EMEA +44 (0) 20 7866 1810

Asia-PacificNorth America +1 877 503 6437

Hong Kong +852 2164 3333
Tokyo +81 3 6441 1430
Sydney +61 (0) 2 7228 5659

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Europe”), (5) FTSE Fixed Income LLC (“FTSE FI”), (6) FTSE (Beijing) Consulting Limited (“WOFE”) (7) Refinitiv Benchmark Services (UK) Limited (“RBSL”), (8) Refinitiv Limited (“RL”)
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Services (UK) Limited is authorised and regulated by the Financial Conduct Authority as a benchmark administrator.
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