Following the withdrawal of the UK from the EU on 31 January 2020 and the end of the accompanying transitional period on 31 December 2020, the UK enacted a Benchmark Regulation framework which will have an impact on the use of EU Benchmarks by UK supervised users.

The Danish Financial Benchmark Facility applied to the UK Financial Conduct Authority (“FCA”) to have the Benchmarks which it administers (CIBOR, Tom/Next, CITA and SWAP) included on the FCA Benchmark Register.  This process was completed on 30 June 2021.  This will allow UK supervised users to continue to use these Benchmarks as and when the UK legislation takes full effect.

https://www.fca.org.uk/