Click to read more. The submission deadline is 30 July 2021.
ESMA has published a “Call for expression of interest to join the Working Group on Euro Risk-Free Rates” and the applications' submission deadline occurs next Friday, 30 July 2021.
Please read the statement below to find out more about the invitation and the necessary requisitions. In addition, you can also find below the required form to apply that, after completion, should be sent to EuroRFR@esma.europa.eu.
The new Working Group on Euro Risk-Free Rates (WG) is launching a call for expressions of interest (CfI) for financial firms to join the WG1. The aim of this CfI is to enhance the representativeness of the WG’s composition through the addition of relevant stakeholders of the benchmark industry. Considering the WG’s current membership, predominantly composed by credit institutions, this CfI is primarily aimed at market infrastructure providers, investment funds and other financial firms and users of benchmarks that currently are not, or not sufficiently, represented in the WG. The selected financial firms will join the WG as voting members and are expected to actively contribute to the WG’s activities. Priority will be given to financial firms that have diverse business activities, i.e. those that are active as end-users of benchmarks and have an understanding of the structure of the market, trading practices, factors affecting prices and volumes, market participation or contract legacy issues. The selection process will also favour those financial firms that clearly commit to dedicating time and resources to the WG and that have demonstrated their support for interest rate benchmarks in the past. In particular, members of any of the subgroups of the former WG are encouraged to apply. Finally, the selection process will give consideration to the geographical diversity of the members of the WG, with a view to capturing different practices in the usage of benchmarks across the European Union. In this regard, it should be noted that an application will not automatically lead to the membership of the WG. If you have any queries or wish to apply to the Working Group on Euro Risk-Free Rates, please email EuroRFR@esma.europa.eu. Applications must be submitted using the dedicated application form on the ESMA’s website and in line with the accompanying instructions 30 July 2021. Applicants are expected to provide a brief overview of their motivations and state their willingness to dedicate time and resources to the work of the new WG. If you have any queries or wish to apply to the Working Group on Euro Risk-Free Rates, please email EuroRFR@esma.europa.eu.