ESMA’s Q&A were updated yesterday to answer the question, whether new prospectuses should include references to a benchmark administrator being on or absent from ESMA’s register. It considers they should, and if the administrator is not but later becomes registered, existing prospectuses approved under the Prospectus Directive do not need updating, but those approved under the UCITS Directive should be. Administrators have until 1st January 2020 to be registered. As of today, 11 have been, all based in the UK, and including ICE.