Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

Article 6 Nature, scale and complexity of the provision of the benchmark

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

  1. (a)

    the degree to which the input data is based on contributions, whether the input data is transaction data and how this degree is reflected in the control mechanisms that the administrator has in place;

  2. (b)

    the amount of input data to be processed and the number of data sources;

  3. (c)

    whether the administrator has sufficient technical means to process the input data continuously and robustly;

  4. (d)

    whether the methodology gives rise to operational risks in processing the input data;

  5. (e)

    the extent to which the administrator relies on contributors for the determination of the benchmark.