Since its inception in 1998, STOXX has been valued by the market as a provider of neutral, transparent and strictly rules-based indices. Our clients and stakeholders value our deep commitment to high standards in the creation of quality indices. Compliance with the regulations governing the creation and dissemination of indices is a vital part of this.
Our strong governance structure supported by rigorous operational and IT processes enabled us to become fully compliant with all index regulations long before the EU Benchmark Regulation passed into law. We were one of the earliest adopters of the IOSCO Principles for Financial Benchmarks.
Building on this solid foundation, we welcome and support the introduction of the EU Benchmark Regulation (“Regulation”) and its focus on the accuracy and integrity of benchmarks. We have undertaken an in-depth assessment of our processes and indices to ensure compliance with the Regulation within the transitional period. We are also in the process of engaging with our clients and stakeholders to provide any support and guidance they may need during this transition period.
Scope and Timeline
- The Regulation applies since 01 January 2018. It affects both EU- as well as non-EU entities, which administer financial benchmarks that are used in the EU.
- While the Regulation applies since 1 January 2018, both EU Administrators as well as non-EU Administrators (“Third Country Administrators”) are granted a transitional period of two years which means STOXX can continue providing its new and existing indices in the EU until 1 January 2020.
- Under the Regulation, a number of benchmark providers have received authorization by the UK FCA as an UK administrator. STOXX Limited is considered a Third Country Administrator. As such, it has a different application process than EU Administrators.
- STOXX shall update its website once it has obtained recognition status.
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