This chapter provides an overview of the regulation of benchmarks and benchmark products. It begins with a discussion of the types of benchmarks used in financial markets, such as stock, debt and other asset-based indexes and interest rate indexes, such as LIBOR. It continues with a discussion of US case law and regulation governing the commercial use of benchmarks in designing and trading financial products, such as derivatives and exchange-traded funds. It then discusses regulatory concerns regarding the integrity of benchmark inputs, the calculation of benchmarks, and competition among benchmark products and markets. It ends with a discussion of approaches to regulating benchmark administration, governance and submissions, as well as the role of exchanges and regulators in the listing of benchmark contracts.
MIT Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.