Article 1U.K.Vulnerability of the benchmark to manipulation

The further criteria to be considered by the competent authority 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:

(a)

whether the benchmark is based on transaction data;

(b)

whether the contributors are supervised entities;

(c)

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

(d)

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

(e)

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

(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.