The Benchmarks Regulation introduces a regime for benchmark administrators that ensures the accuracy and integrity of benchmarks. ESMA developed draft regulatory technical standards (RTS) and implementing technical standards (ITS) on a large number of areas, and also provided the Commission with Technical Advice. ESMA coordinates the supervision of benchmark administrators by national competent authorities. For critical benchmarks, a college of national supervisors including ESMA is formed and is responsible for key decisions.
