ESMA has launched a Consultation seeking stakeholder input into future proposals on draft Regulatory Technical Standards and Technical Advice to accompany the Benchmarks Regulation once it comes into force (date as yet unknown). According to ESMA, the Regulation aims to improve governance and control over the benchmark process, which is important for the pricing of many financial instruments. Ahead of the Regulation the Authority is seeking views as to: the appropriate definition of benchmarks; the authorisation and registration of an administrator; governance and control requirements for supervised contributors; requirements for the benchmark oversight function; requirements for the benchmark input data; and what the appropriate transparency requirements regarding the benchmark methodology should be.