Benchmarks Regulation & Structural Changes to Deutsche Börse Group’s Index business
EU Benchmarks Regulation
The EU Benchmarks Regulation applies since 1 January 2018 and affects both EU and non-EU entities that administer indices that are used in the EU as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds. In the UK, after ‘Brexit’, the administration and use of financial benchmarks will be subject to UK legislation. However, UK legislation replicates the EU Benchmarks Regulation.
On 31 July, 2019, STOXX Ltd. (STOXX) has acquired recognition by the German Federal Financial Supervisory Authority (BaFin) as a third-country administrator in accordance with Art. 32 of the EU Benchmarks Regulation. STOXX and the indices administered by STOXX have been included in the ESMA Benchmarks register under Art. 36 of the EU Benchmarks Regulation.
Transfer of administration of Deutsche Börse AG’s indices
In an effort to realize synergies within the Deutsche Börse Group's index business, Deutsche Börse AG (DBAG) has transferred on August 21, 2019 its index administrator role (as defined under the EU Benchmarks Regulation) in relation to the DBAG’s indices (DAX, eb.rexx, etc.) to STOXX. This transfer will not affect customer's contractual relationship with DBAG.
More details about the Axioma transaction is available here.
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|Declarations of Compliance||File|
|Press Release July 31, 2014.|
|IOSCO Letter of Compliance|
|IOSCO and ESMA-EBA|
|Conflict of Interest Policy|
|Input Data Policy|
|Benchmark Transition Policy|
|Changes to Methodology Policy|
Notice: Access to assurance report with respect to the Statement of Compliance
with the IOSCO Principles for Financial Benchmarks and the EU Benchmark
Regulation of STOXX Ltd. prepared by PwC.
This PDF file (the “Document”) consists of the independent practitioner’s assurance report (the “Assurance Report“), prepared by PricewaterhouseCoopers AG, , Switzerland, (“PwC”) in accordance with International Standard on Assurance Engagements 3000 “Assurance Engagements other than Audits or Reviews of Historical Financial Information” (ISAE 3000 (revised)) and dated 2 March 2022, and of the Statement of Compliance of STOXX Ltd (the “Company”) with the Principles for Financial Benchmarks published by the International Organisation of Securities Commissions (IOSCO) in July 2013 and Regulation (EU) 2016/1011 of 8 June 2016 (including corresponding regulatory and implementing technical standards (RTS/ ITS) as well as delegated acts (DA) on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (collectively referred to as “Benchmark Regulation”) for the period from 1 January 2020 to 31 December 2020 (the “Report”).
The Document was prepared for the use and benefit of the management of the Company on the basis of an engagement letter between the Company and PwC that stipulates certain restrictions with respect to disclosing the Document to third parties.
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- The Document was not prepared, and PwC’s work in connection with the Assurance Report was not planned or executed in contemplation of your interest in the Document or for your purposes. Therefore, items of possible interest to you may not have been specifically addressed for the purposes of PwC’s work and/or the Report. PwC does not warrant or represent that the Information (as defined below) is appropriate for your interests or purposes. For the purposes of this agreement, the expression the “Information” shall mean the Document, all work done by PwC in connection with the Document and in connection with the terms of engagement pursuant to which the Assurance Report was produced as well as any explanations and other information that PwC may give or has given to you or the Company in respect of this work, including the Assurance Report, and shall include also parts thereof.
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