MSCI, S&P Indices, FTSE launch Index industry trade body
MSCI, S&P Indices and FTSE have created a global trade body for the index industry, called the Index Industry Association (IIA).
The IIA will form an official, representative body, with a remit that includes educating investors on the attributes and role of indices within the investment process and advocating the interests of index users and providers worldwide.
The IIA will function as an independent organisation with dedicated resources, representing a global membership from its headquarters in New York.
The respective chief executives of MSCI, S&P Indices and FTSE; Henry Fernandez, Alexander Matturri and Mark Makepeace said the launch of the association signifies an important milestone for the index industry. “The IIA will promote the agenda of our industry and push for new, universal standards for best practice, independence and transparency,” a statement said.
Created as a not-for-profit institution for the fast-growing community of index providers, the IIA will be open to membership from index businesses worldwide. The initial board of directors will comprise representatives of the founding companies; MSCI, S&P Indices and FTSE, and representatives from the membership. A search is currently underway for an Executive Director to lead the IIA.
This independent membership structure will enable the IIA to focus on its key objectives, including the support of intellectual property rights, and to work with relevant regulatory bodies around the world for the benefit of the industry and its clients.