Article 2
Nature of the input data
The further criteria to be considered by the competent authority under Article 25(3) of Regulation (EU) 2016/1011 in taking into account the nature of the input data shall include at least the following:
(a) |
in cases where the input data is transaction data, whether the administrator is a participant in the market or economic reality that the benchmark is intended to measure; |
(b) |
in cases where the input data is provided by contributors, whether the contributors have a financial interest in financial instruments or financial contracts referencing the benchmark or could profit from the performance of an investment fund that is measured by the benchmark; |
(c) |
in cases where the input data is sourced from exchanges or trading systems located in a third country, whether a regulatory and supervisory framework applies to those exchanges or trading systems that maintains the integrity of the input data; |
(d) |
in cases where the input data consists of quotes, whether the quotes are committed or indicative and whether adequate control mechanisms apply to them. |