Legal framework for national system of financial and commodity indices established
Administrators of financial and commodity indices will be new participants in the Russian market. The related law signed by the Russian President stipulates the requirements for their activity and index calculation methodologies. The indices will benchmark prices for particular assets.
According to the law, index administrators and their methodologies will be put on the relevant register to be created. It will be maintained by the Bank of Russia based on the voluntary principle. Administrators who are not in the register will also be allowed to work in the market. However, only indices listed in the register may be referred to in the regulations of the government authorities and the Bank of Russia. Foreign indices may be used as benchmarks only if there are no equivalents in the Russian market. The law is to become effective on 1 September 2025.
The Bank of Russia has been recently engaged in the development of the national index system and is currently assessing the index calculation methodologies. For details refer to the National System of Financial and Commodity Indices.
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