NZFBF Granted Benchmark Administrator Licence
03 December 2025
The Financial Markets Authority (FMA) has issued New Zealand Financial Benchmark Facility Limited (NZFBF) an administrator of financial benchmarks licence. This milestone means NZFBF must comply with the Financial Markets Conduct Act 2013 and associated regulations, including Schedule 28.
Established in 2021 by the New Zealand Financial Markets Association (NZFMA), NZFBF provides independent administration of financial benchmarks. The licence reinforces NZFBF’s commitment to accurate and efficient benchmark calculation and publication, in line with the FMCA, regulations, and IOSCO Principles.
Importantly, the licence was a prerequisite for New Zealand securing equivalence under the European Benchmark Regulation (EU BMR), granted on 31 October 2025. This equivalence ensures that New Zealand’s key interest rate benchmark, BKBM, can continue to be referenced by European entities trading NZD derivatives beyond 31 December 2025.
The FMA has released a statement on these developments, available [here].
Congratulations to the NZFBF team for their outstanding effort in achieving this significant milestone for New Zealand’s financial markets.
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