Deutsche Börse, the official Index Administrator of the DAX index family and other leading financial market indices, today announced that the indices comply with the International Organisation of Securities Commission’s (IOSCO) Principles for Financial Benchmarks. Deutsche Börse has published the Letter of Compliance on the company’s website.
The objective of the IOSCO Principles is to create an overarching regulatory framework for benchmarks used in global financial markets. The internationally accepted guidelines cover methodology, transparency, the quality of benchmarks, governance arrangements and accountability of index providers and other relevant organisations. These principles aim to promote the reliability of benchmarks at a global level, ensuring a uniform standard.
Having completed a thorough assessment of Deutsche Börse’s governance processes, business policies, procedures and controls framework, the DAX and other Deutsche Börse indices are fully compliant with the requirements set out by IOSCO. This assessment includes the outsourced processes to STOXX Limited, comprising the development of new and the maintenance of existing indices.
STOXX Limited, which is part of Deutsche Börse AG and SIX, announced its compliance with the IOSCO Benchmark Principles in July 2014. Deutsche Börse is planning an independent audit of its implementation of the IOSCO Principles for Financial Benchmarks in 2015.
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