Deutsche Börse has announced that its DAX index family officially comply with the international Organisation of Securities Commission’s (IOSCO’s) principles for financial benchmarks.
The service provider is the official index administrator for the DAX indices and various other financial market indices.
The IOSCO principles aim to create a regulatory framework for benchmarks used in global financial markets, standardising guidelines throughout the industry and making them more reliable. They cover methodology, transparency, quality of benchmarks and governance, as well as accountability of index providers and other influential organisations.
After an assessment of the Deutsche Börse processes, business policies, procedures, frameworks and governance, it was declared compliant with the IOSCO requirements. Checks also included STOXX Limited, which handles outsourced processes of developing new indices and managing those that already exist, even though STOXX announced its own compliance with IOSCO in July.
Deutsche Börse is also planning an independent audit of its implementation of the principles for 2015.
