Article 1 Vulnerability of the benchmark to manipulation

The further criteria to be considered by the FCA under Article 25(3) of Regulation (EU) 2016/1011 in taking into account the vulnerability of the benchmark to manipulation shall include at least the following:

  1. (a)

    whether the benchmark is based on transaction data;

  2. (b)

    whether the contributors are supervised entities;

  3. (c)

    whether measures apply that increase the robustness of the input data;

  4. (d)

    whether the administrator's organisational structure reduces incentives to manipulation;

  5. (e)

    whether the administrator has a financial interest in financial instruments, financial contracts or investment funds referencing the benchmark;

  6. (f)

    whether there are proven cases of manipulation of the same benchmark or a benchmark with a similar methodology provided by an administrator of similar size and organisational structure.