Regulation

The EU Benchmark Regulation ((EU) 2016/1011 of the European Parliament and the Council of 8 June 2016, “BMR”) came into effect on 1 January 2018 and introduces a common framework to ensure the accuracy and integrity of indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds. On 27 February 2018, HM Treasury in the UK passed into legislation the Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018, thereby fully adopting the BMR.

In 2018, NCFX was granted permission by the Financial Conduct Authority (FCA) in the UK under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of administering a benchmark.

In accordance with Article 27 of the BMR, NCFX provides benchmark statements for its families of benchmarks.

NCFX can be found on the FCA financial services register (https://www.fca.org.uk/firms/financialservices-register) with firm reference number 793983. The FCA is the sole regulatory supervisor for NCFX although the company can also be found on the European Securities and Markets Authority (ESMA) Register of Benchmark Administrators (https://www.esma.europa.eu/databaseslibrary/registers-and-data).11)