This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
July 17, 2014 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI"), one of the world's leading index providers, announced today that it will administer its benchmarks in alignment with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks.
S&P DJI operations were already largely aligned with the principles put forth by the IOSCO Principles for Financial Benchmarks, such as separate commercial and governance functions and rigorous methodological policies to name just a few. The independent corporate audit function at McGraw Hill Financial, S&P DJI's parent company, has now conducted its comprehensive review of S&P DJI's alignment with the IOSCO Principles, and will issue its findings and will continue to conduct annual reviews as called for in the IOSCO Principles.
"S&P Dow Jones Indices is fully supportive of IOSCO's position that benchmark administrators should be free of potential conflicts of interest," says
Alex Matturri, CEO of S&P Dow Jones Indices. "We strongly believe that an index provider should not be allowed to manage, trade, or issue investment products based upon its indices. The IOSCO Principles for Financial Benchmarks are very much in line with how S&P Dow Jones Indices has transparently and independently governed its indices for over 115 years."
S&P DJI has been publishing financial market indices since 1896 with the launch of the Dow Jones Industrial Average™, one of the best-known icons of American culture and among stock market observers around the world. The launch of the S&P 500® in 1957 was an innovative milestone in gauging the overall health of the US equity markets and changed the way that investors would eventually measure and trade the markets. Today, S&P Dow Jones Indices publishes more than 1,000,000 indices on a real-time or end-of-day basis, each built and governed on the basis of transparency, integrity, objectivity, and independence.