OpenLegislation

Division 3 Along with the methodology referred to in paragraph 2, the administrator of a commodity benchmark shall also describe and publish all of the following:

United Kingdom

Original text. Later amendments are not shown.

  1. (a)

    the rationale for adopting a particular methodology, including any price adjustment techniques and a justification of why the time period or window within which input data is accepted is a reliable indicator of physical market values;

  2. (b)

    the procedure for internal review and approval of a given methodology, as well as the frequency of such review;

  3. (c)

    the procedure for external review of a given methodology, including the procedures to gain market acceptance of the methodology through consultation with users on important changes to their benchmark calculation processes.