Judgment_paragraph 78 · Versorgungswerk der Zahnärztekammer Schleswig-Holstein v European Central Bank (T-376/13)

78Next, contrary to the applicant’s assertions, the fact that the SMP had already been terminated does not make those reasons manifestly incorrect or entirely irrelevant. In fact, according to the ECB’s reasoning, disclosure of the information contained in Annexes A and B to the Exchange Agreement could have led market participants to predict the strategy, tactics and method which might be employed by it and by the Eurosystem NCBs as part of future interventions. Yet as the Court has held previously, it is common for market participants to use the information disclosed by central banks, since their analyses and decisions are considered a particularly important and reliable source to assess current and prospective financial market developments (judgment in Thesing and Bloomberg Finance v ECB, cited in paragraph 53 above, EU:T:2012:635, paragraphs 52, 57 and 63).