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And, as it turns out, most other benchmarks around the world have the same problem, according to the IOSCO study.
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But there are countless deviations from this benchmark, both around the world (the bar mitzvah, for instance), and within the United States.
Had MSCI chosen to bring yuan-denominated stocks into its global emerging-markets benchmark, investors around the world would have been pressed to allocate billions of dollars to China.
A new study by the International Organization of Securities Commissions finds that Libor-like manipulation is likely happening in benchmark rates around the world, Bloomberg reports.
For the long term, it said, officials responsible for public health and safety should consider a variety of "benchmarks" in use around the world, some far higher than standards in use in this country to protect the public in routine operations and nuclear accidents.
Futures contracts on the coffee exchange, the benchmark for prices around the world, had been as high as $3.05 a pound, in May 1997.
Copenhagen remains the benchmark as cities around the world try to figure out how to take the bicycle seriously as a mode of transport again, and enable this 19th-century invention to solve 21st-century urban challenges.
With increased connectivity of glucose monitors, heart monitors and so many other tracking devices, there are bound to be new discoveries from the data we collect, analyze and benchmark against patients around the world.
Benchmarks make the world go 'round.
Around 100 benchmark grades are traded around the world, though a couple garner the most attention.
The prices at which these futures contracts change hands are the benchmark for pricing commodities around the world.
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CEO of Professional Science Editing for Scientists @ prosciediting.com