An EU administrator is authorized or registered by the competent authority of the Member State where it is located, depending on the type of benchmark it provides1. The European Money Markets Institute (EMMI) administers EURIBOR, an EU critical benchmark, and the European Securities and Markets Authority (ESMA) supervises it2.

An administrator is distinct from a contributor. A contributor provides input data that is not readily available to the administrator3. The regulation also defines an index provider, the person controlling the provision of an index, separately from an administrator, the person controlling the provision of a benchmark3.

Notes

  1. Benchmarks Regulation, Article 34(1) (applications go to the competent authority of the Member State where the administrator is located). ↩

  2. ESMA, "Benchmark Administrators" (retrieved on October 5, 2026), the section on EU critical benchmarks. ↩

  3. Benchmarks Regulation, Article 3(1), points (2) (index provider), (5) (provision of a benchmark), (6) (administrator), (8) (contribution of input data), (9) (contributor). ESMA, Interactive Single Rulebook (retrieved on October 5, 2026). ↩ ↩2