BENCH 2.2 Parts of the Handbook applicable to benchmark contributors

1The regulated activity of providing information in relation to a specified benchmark no longer applies except in limited circumstances (see SUP TP 10 for an explanation of those circumstances).

Contributing input data to a BMR benchmark administrator is not a regulated activity. However, benchmark contributors are still subject to various obligations under the benchmarks regulation and the Handbook.

Benchmark contributors are reminded of the following provisions in or made under the benchmarks regulation:

1. (a)

   article 15 (Code of conduct);

2. (b)

   article 16 (Governance and control requirements for supervised contributors); and

3. (c)

   article 23 (Mandatory contribution to a critical benchmark).

Benchmark contributors, as authorised persons, are subject to requirements under the Handbook. However, in some cases the application of the Handbook is excluded in relation to a firm’s activities as a benchmark contributor (see the relevant Handbook provisions for their detailed application).

Benchmark contributors are also subject to the following rules which apply only to benchmark contributors:

1. (a)

   MAR 8.4 (Third country benchmark contributors); and

2. (b)

   MAR 8.6 (Responsibility for benchmark activities: benchmark contributors).

However, some provisions in MAR are disapplied where a firm is contributing input data in relation to a commodity benchmark the provision of which is governed by Annex II to the benchmarks regulation (see MAR 8.4.1R and MAR 8.6.1R).