Index provider Solactive, whose products are used by 380 exchange-traded funds from a number of well-known providers, is now registered as a Benchmark Administrator under the European Benchmarks Regulation (BMR), which the company says will allow it to provide superior indexing services throughout Europe for years to come.
Solactive has successfully registered nearly 1,700 indices with the German Federal Financial Supervisory Authority (BaFin).
Published in the ESMA Benchmark Administrators Register on 9 April 2019, Solactive achieved registration well before the end of the transitional period of 1 January 2020. The registration underlines Solactive’s commitment to high standards in benchmark administration in order to foster the quality, reliability, and integrity of its benchmarks.
“We regard the European Benchmarks Regulation as important legislation that helps ensure the avoidance of potential conflicts of interest in the indexing business,” says Steffen Scheuble, CEO of Solactive. “The registration as an authorized Benchmark Administrator is a huge leap forward for Solactive, and we are very proud to have achieved this milestone.”
Christian Vollmuth, Chief Risk Officer of Solactive comments: “Our registration as a Benchmark Administrator is the culmination of 18 months of detailed project work. Working in conjunction with the regulator, we have established a solid foundation for compliance with the BMR, which will also help to ensure the accuracy and integrity of our benchmarks.”