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.