Index Industry Association (IIA) appoints executive director

The Index Industry Association (IIA) has appointed Rick Redding as its first executive director.

Redding has spent most of his career in senior leadership roles with rhe CME Group, a provider of benchmark futures and options products and an innovator in futures trading. Most recently he was managing director for products and services.

His expertise covers global sales, product development and strategic global growth initiatives. He has also played a key role in the transition of CME’s ownership stake in Dow Jones Indexes to the S&P Dow Jones Indices joint venture.

The IIA has also seen the addition of Russell Index Group, Russell Investments as a new member, following in the footsteps of Barclays and Nasdaq OMX Global index Group, which both joined in June.

Redding says: “The addition of Barclays, Nasdaq OMX, and Russell Investments as members shows that the association is expanding its role as a representative body for the indexing industry.”

Ron Bundy, CEO Russell Indexes added: “We have joined to help develop a better understanding of indexes and their role, as well as to actively participate in establishing standards across the industry.”

The IIA was founded in March 2012 as the first ever trade association for the index industry. Membership consists of Barclays, FTSE, MSCI, Nasdaq OMX, Russell and S&P Dow Jones Indices.

The Association’s mandate is to educate investors on the attributes and role of indexes within the investment process, to advocate the interests of index users and providers worldwide, and to push for industry standards of best practice, independence and transparency.

IIA is a not-for-profit organization and membership is open to index businesses worldwide.

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