On the 15th May 2019, Finance Denmark, the current administrator of the Danish benchmarks, announced that it had reached an agreement to transfer the Administration of the key reference rates CIBOR®, CITA, SWAP and Tomorrow/Next to the Danish Financial Benchmark Facility ApS (DFBF). The newly formed company is a Danish incorporated subsidiary of Global Rate Set Systems (GRSS).
Global Rate Set Systems Ltd is an independent company that specialises in benchmark administration services, calculating agent and benchmark licensing services. Its subsidiary, the Czech Financial Benchmark Facility is the administrator of the PRIBOR benchmark and has obtained authorisation as an administrator under BMR in 2018.
The DFBF will be responsible for administering all aspects of the benchmark determination process once the transfer is concluded including the licensing of the data to end users, distributors, exchanges and clearing houses.