Bezpieczny Bank nr 4 (69) 2017, s. 109-130
DOI: 10.26354/bb.2.4.69.2017
Piotr Mielus
Piotr Mielus works at the Collegium of Economic Analysis, Warsaw School of Economics.
A vicious circle of the benchmark reform
Abstract:
The Benchmark Regulation (BMR) imposes the necessity of the conversion of the quote-based financial indices to the transactional-based ones. The reform is a challenge for administrators of indices that perform feasibility studies of the conversion process. The article analyses pros and cons of various methods of the index reform indicating the optimal path of such activity as far as money market is concerned. A choice for a “parallel listing” path seems to be the safest one if one takes into account the legal and economic risks embedded in various transition models.
Key words: financial indices, benchmark regulation, money market
Pełny tekst artykułu w pdf:
