FTSE International authorized as an EU-based Benchmark Administrator
- FTSE Russell fully supports objectives of European Benchmark Regulation
- FTSE International Limited’s authorisation underpins FTSE Russell’s commitment to strong governance, product quality and accountability
FTSE Russell, a leading global index and data provider, is pleased to announce that FTSE International Limited has received regulatory approval from the UK’s Financial Conduct Authority (FCA) to be authorised as a Benchmark Administrator, under the European Benchmark Regulation (EU BMR). The EU BMR introduced a common framework to ensure the accuracy and integrity of indexes used as benchmarks in the European Union. FTSE Russell is firmly committed to ensuring the highest standards of index governance and is fully supportive of the objectives of the EU BMR.
The FCA authorisation is comprehensive across asset classes and covers the FTSE, Russell, FTSE TMX and FTSE MTS equity and fixed income indexes that are known to be used as benchmarks in the European Union. FTSE International Limited is listed on the FCA register and will be on the ESMA register for administrators.
The fixed income indexes acquired from Citigroup Indices LLC in August 2017 will continue to be administered by the US-based entity, FTSE Fixed Income LLC, according to the EU BMR’s third country transitional provisions. The process of the transition to FTSE International Limited as the administrator is being managed in conjunction with the rebranding of Citi’s Fixed Income Indexes to FTSE Fixed Income Indexes.
Mark Makepeace, CEO of FTSE Russell, said:
“We are committed to promoting the highest possible governance standards within our industry. As such, we fully embrace the principles within the European Benchmark Regulation to enhance and promote transparency and openness in all benchmark decisions. We will continue to work closely with our clients to support them in implementing the regulation.”
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Benchmark statements will be available on FTSERussell.com to help users comply with their direct obligations with respect to EU BMR. Further information, including a Client FAQ, can be found on our website at http://www.ftserussell.com/eu-benchmark-regulation.
For further information:
Lucie Holloway/ Alex Ritterman
+44 (0)20 7797 1222
Notes to editors:
About FTSE Russell:
FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $15 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com
© 2018 London Stock Exchange Group plc and its applicable group undertakings (the “LSE Group”). The LSE Group includes (1) FTSE International Limited (“FTSE”), (2) Frank Russell Company (“Russell”), (3) FTSE TMX Global Debt Capital Markets Inc. and FTSE TMX Global Debt Capital Markets Limited (together, “FTSE TMX”), (4) MTSNext Limited (“MTSNext”), (5) Mergent, Inc. (“Mergent”), (6) FTSE Fixed Income LLC (“FTSE FI”) and (7) The Yield Book Inc. (“YB”). All rights reserved.
FTSE Russell® is a trading name of FTSE, Russell, FTSE TMX, MTS Next Limited, Mergent, FTSE FI and YB. “FTSE®”, “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®” , “WorldBIG®”, “USBIG®”, “EuroBIG®”, “AusBIG®”, “The Yield Book®”, and all other trademarks and service marks used herein (whether registered or unregistered) are trademarks and/or service marks owned or licensed by the applicable member of the LSE Group or their respective licensors and are owned, or used under licence, by FTSE, Russell, MTSNext, FTSE TMX, Mergent, FTSE FI or YB. “TMX®” is a trademark of TSX Inc. FTSE International Limited is authorised and regulated by the Financial Conduct Authority as a benchmark administrator.