In this act Article 5 of 6
Article 5 — Standards guiding how a benchmark may be proven to be new
Financial servicesLevel 2RTSMiFIRIn forceOfficial source
5(1)Copy link
1.When establishing whether a new benchmark meets the criteria set out in points (a) and (b) of Article 37(2) of Regulation (EU) No 600/2014, a person with proprietary rights to a benchmark shall take the following standards into account:
5(1)(a)
(a)whether contracts based on the more recent benchmark are not capable of being netted nor substantially offset with contracts based on the relevant existing benchmark by a CCP;
Copy link5(1)(b)
(b)whether the regions and industry sectors covered by the relevant benchmarks are not the same, nor similar;
Copy link5(1)(d)
(d)whether composition of the relevant benchmarks, having regard to the number of constituents, the actual constituents, their values and their weightings are not the same, nor similar;
Copy link5(1)(e)
(e)whether the methodologies of each relevant benchmark are not the same, nor similar.
Copy link5(2)Copy link
2.For commodity benchmarks, in addition to the standards specified in paragraph 1, the following additional standards shall be taken into account:
5(2)(a)
(a)whether the relevant benchmarks are not based on the same underlying commodities;
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