The European Money Markets Institute (EMMI) is an international non-for-profit association founded in 1999 – along with the introduction of the euro – whose members are national banking associations in the Member States of the European Union. EMMI’s goal is to support the smooth functioning of European money markets and related financial markets, and to facilitate their integration.
Recognised a key organisation in European financial markets for its expertise and operational excellence in the provision of benchmarks and in the support of money market initiatives, EMMI is the administrator two critical interest rate benchmarks: - EURIBOR®, the money market reference rate for the euro, for which EMMI was granted an authorisation under Article 34 of the Benchmarks Regulation of the European Union (BMR) in July 2019 - EONIA®, the interbank overnight lending reference rate for the euro, for which EMMI was granted an authorisation under Article 34 of the Benchmarks Regulation of the European Union (BMR) in December 2019
EMMI is also one of the main promoters of the STEP Initiative aimed at fostering the integration of the European markets for short-term papers through the convergence of standards and practices.