Commission Delegated Regulation (EU) 2021/1352 Article 2: Conditions to ensure that the benchmark methodology has clear rules identifying how and when discretion may be exercised in the determination of the benchmark

Article 2 - Conditions to ensure that the benchmark methodology has clear rules identifying how and when discretion may be exercised in the determination of the benchmark

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Article 2

Conditions to ensure that the benchmark methodology has clear rules identifying how and when discretion may be exercised in the determination of the benchmark

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A benchmark methodology as referred to in Article 12(1), point (b), of Regulation (EU) 2016/1011 shall specify all of the following:

((a))

the step of the calculation of the benchmark at which discretion is performed;

((b))

the criteria that are to be used when exercising the discretion;

((c))

the input data that are to be taken into account;

((d))

where applicable, a non-exhaustive list of the conditions under which:

((i))

transaction data in the underlying market are to be considered as not sufficient and the use of transaction data in related markets is needed;

((ii))

applying the methodology does not yield a result and discretion has to be exercised in the determination of the benchmark;

((e))

the type of related markets that are to be considered appropriate for the purposes of point (d)(i).