Norske Finansielle Referanser AS (NoRe) is pleased to announce that Global Rate Set Systems Ltd. (GRSS) has been chosen as the new calculation, distribution and licensing agent for Nibor. GRSS will take over the task, currently provided by Oslo Børs, as from September 30th, 2019. For current subscribers Oslo Børs will continue as primary distributor until the end of 2019.
Oslo Børs took on the role as calculation agent for Nibor in December 2013, as part of the revision of the Nibor framework after the publication of the IOSCO Principles for Financial Benchmarks in July 2013. NoRe is very satisfied with the services provided by Oslo Børs.
NoRe will seek authorization as benchmark administrator under the EU Benchmarks Regulation (BMR). BMR brings more detailed requirements on administrators of interest rates benchmarks and the contributing panel banks, increasing the importance of applying industry standard solutions and arrangements.
GRSS is a specialized service provider that offers an industry standard solution for interest rate benchmarks to an increasing number of administrators and other involved parties. The experience of GRSS and their adoption of BMR compliant policies and technologies, particularly regarding interest rate benchmarks is very well regarded and they will prove a valuable partner for NoRe going forward.
Current subscribers will need to engage in a new agreement, directly with NoRe, to come into effect from January 1st, 2020. More information on the steps necessary to ensure continued access to Nibor information will be provided by NoRe in due course.
New subscribers as from 30th September must engage in an agreement with NoRe.
Please contact NoRe with any question related to access to NIBOR data.
Contact NoRe: email@example.com, Per Erik Stokstad, +47 917 04 821