Related provisions for MAR 8.1.1
1 - 4 of 4 items.
The arrangements described in MAR 8.3.3 R should include measures designed to ensure the confidentiality of benchmark submissions and additional information received from benchmark submitters (to the extent that such submissions and information are not publicly available or1 have not been made public by mutual agreement between the benchmark administrator and benchmark submitter), for example, through confidentiality agreements for the benchmark administrator's employees and members
1To ensure it is using adequate benchmark submissions, a benchmark administrator of a specified benchmark that does not have benchmark submitters should use benchmark submissions that are: (1) representative of the state of the market the specified benchmark references; or(2) made available by reliable data sources.
A benchmark administrator must establish an oversight committee (which must be a committee of the benchmark administrator) which includes:11(1) 1(where applicable) representatives of benchmark submitters;(2) 1market infrastructure providers;(3) 1users of the specified benchmark; and(4) 1at least two independent non-executive directors of the benchmark administrator approved to carry out the non-executive director function.
The benchmark administrator through its oversight committee must:(1) develop practice standards in a published code which, for the relevant specified benchmark, set out the responsibilities for: 11(a) 1benchmark submitters and (where applicable) persons who make benchmark submissions available;(b) 1the benchmark administrator; and(c) 1the oversight committee;(2) undertake regular periodic reviews of:(a) the practice standards mentioned in MAR 8.3.10R (1);(b) the setting and definition
A benchmark submitter must:(1) keep for at least five years: (a) records of its benchmark submissions, as well as all information used to enable it to make a benchmark submission; and(b) reports on the key sensitivities the benchmark submitter may have regarding the specified benchmark it is submitting to, including (but not limited to) the benchmark submitter's exposure to instruments which may be affected by changes in the specified benchmark;(2) provide to the relevant benchmark