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, New Change FX 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, New Change FX provides benchmark statements for its families of benchmarks.

The FCA is the sole regulatory supervisor for New Change FX. New Change FX can be found on the FCA financial services register with firm reference number 793983.

New Change FX provides benchmarks for use by EU supervised entities under the third-country transition period for administrators agreed under the EU BMR. The transition period is currently being extended until 31 December 2025.