For BMR references please see Article 32.
The Recognition pathway is being considered by third country benchmark administrators as a viable alternative route to Equivalence.
A key issue for third country benchmark administrators who decide to take this route is to determine, based on the criteria, which competent authority in an EU Member state should be approached for the Recognition route. GRSS can assist in understanding usage of benchmarks by EU supervised entities.
Another key issue is the setting up of a legal representative and liaison resource in the European Union in the relevant Member state. GRSS, through its operations in Europe and its 100% subsidiary, Czech Financial Benchmark Facility s.r.o. can assist in providing such services on a contracted basis.