The Spanish National Securities Market Commission (CNMV) has designated the IBEX 35 as a significant benchmark under the revised EU Benchmarks Regulation (BMR), following its assessment, consultation with the administrator and favorable advice from the European Securities and Markets Authority. The designation maintains the index under the regulatory and supervisory regime for significant benchmarks. The CNMV found that the IBEX 35 has no adequate market substitute and remains central to Spain’s equity market because of its capitalization, trading weight and extensive use in financial instruments and investment products. It concluded that the index’s discontinuation, loss of representativeness or reliance on unreliable data could materially affect market integrity, financial stability, investors, consumers and the Spanish economy. Sociedad de Bolsas, which is already registered as the administrator, will remain subject to the BMR requirements for administrators of significant benchmarks based on regulated data. Separately, the CNMV completed its review of Spanish administrators affected by the BMR’s narrower scope. AFI, SERFIEX, BBVA and MIBGAS will leave the European register of benchmark administrators from Oct. 1, 2026, although supervised entities may continue using their indices.
2026-09-28Spanish Securities Commission (CNMV)
Spanish National Securities Market Commission designates IBEX 35 as a significant benchmark under revised EU rules
The Spanish National Securities Market Commission has designated the IBEX 35 as a significant benchmark under the revised EU Benchmarks Regulation, preserving enhanced oversight of the index and its administrator. AFI, SERFIEX, BBVA and MIBGAS will leave the European administrator register from Oct. 1, 2026, but supervised entities may continue using their indices.