Benchmark Administration by S&P Dow Jones Indices Limited

Administration of S&P Dow Jones Indices Limited proprietary indices and third-party indices

S&P Dow Jones Indices Limited (previously IHS Markit Benchmark Administration ("IMBA")) was granted authorization by the U.K. Financial Conduct Authority ("FCA") to act as Benchmark Administrator under Article 34 of the U.K. Benchmark Regulation. S&P Dow Jones Indices Limited is listed on the FCA's Register for U.K. Benchmark Administrators.

S&P Dow Jones Indices Limited administers more than 28,000 benchmarks and is the Benchmark Administrator for iBoxx®, iTraxx®, and CDX® excess and total return indices. S&P Dow Jones Indices Limited also provides Benchmark Administration services on behalf of third-party index owners.

S&P Dow Jones Indices Limited's Benchmark Administration activities have been conducted in line with the IOSCO Principles for Benchmarks since 2014.

S&P Dow Jones Indices is committed to continuous engagement and cooperation with our regulatory stakeholders. Our internal processes, policies and procedures are aligned with industry best practices as well as rules and regulations impacting our business.

S&P Dow Jones Indices has an extensive history of delivering robust and transparent benchmarks to the financial industry and always endeavors to deliver high-quality indices in conformity with our core values and in compliance with all applicable laws and regulations as well as industry standards and guidelines.

Learn more about Benchmark Administration Services by S&P Dow Jones Indices Limited
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To ensure our indices, and the processes governing them, are as transparent as possible S&P Dow Jones Indices publishes a variety of documents intended to help users fully understand a given benchmark’s intended market or economic focus, show how benchmarks are treated in certain standard scenarios impacting that benchmark, and the specific rules governing the benchmark itself.

These document types include:
 
Benchmark Statements

Benchmark Statements are broad documents intended to help users (and potential users) understand the market or economic reality the benchmark(s) seeks to measure, the data input sources, and the benchmark’s reliability in volatile markets and potential susceptibility to manipulation. Benchmark Statements also include information on potential limitations of the benchmark, and how the use of expert judgement and discretion are handled. See below for specific Benchmark Statements.
 
Policy Documents

Policy documents define the general policies that S&P Dow Jones Indices adheres to in specific scenarios, primarily Restatements, the S&P DJI Index Governance Policies. The policy documents do not contain index-specific treatment but apply generally to all indices provided by S&P Dow Jones Indices unless an index guide explicitly details a deviation from the standard treatment. See below for specific policy documents.
 
Methodologies

Methodology documents contain the specific rules governing a benchmark, including the benchmark’s objective, eligibility criteria, selection & weighting process, and maintenance. The Methodology also detail any non-standard treatment that may deviate from the general treatment described in the policy documents. S&P Dow Jones Indices Methodologies are arranged by benchmark family and can be accessed here by selecting each family name.

Benchmark Register

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Benchmark Statements

Restatement Policies

Other Relevant Documentation

News and Information

View our diverse set of proprietary benchmarks, tradable indices and third-party administered indices across asset classes