Indextus Ltd aims to champion the integrity of the indices it designs, develops and publishes. This work will likely involve collaboration with external parties. As part of this commitment, an internal Compliance & Continuity Committee has been established. This meets periodically to provide oversight, challenge and guidance on the way Indextus Ltd operates internally and how it engages with other stakeholders externally.
The Compliance & Continuity Committee members include senior employees in the business and is chaired by Colin Lunnon, the Founder & Director of the company. The Committee’s primary role is to promote and be guardian of a set of 20 Guiding Principles that Indextus Ltd determines are the cornerstone of good governance. The first 19 are based on a set of international (IOSCO) standards. We have widened the scope of the 19th standard to encompass an expansion of our regulatory commitment as a regulated benchmark administrator in the UK. The 20th Principle is an addition that Indextus Ltd believes is important in its ambition to be a leading index supplier and relates to our commitment to proactively engage with our Clients and index users.
International guidelines set out by the IOSCO (International Organization of Securities Commissions) and subsequently adopted by the EU Regulations on Financial Benchmarks and supported by the Financial Conduct Authority form the backbone of the Indextus 20 Guiding Principles.
The IOSCO’s guidelines were founded on the following overarching factors:
A structure needs to be in place to protect the integrity of the benchmarks. This includes the overall responsibility of the administrator; the oversight of third parties; conflicts of interest for administrators; a control framework for administrators; and to ensure internal oversight is in place.
These principles are designed to promote credibility and fall into two sub-sections. First the quality of the benchmarks, including their design; data sufficiency; hierarchy of data inputs; transparency of how the benchmark was determined; and the periodic review cycle. Second, is the quality of the calculation methodology, in particular sufficient detail on the content of the methodology; any changes to the methodology; policies if benchmarks need to be transitioned; a submitter code of conduct; and the internal controls of the administrator over data collection.
Maintaining high standards is paramount and this is achieved through a complaints procedure; audits and audit trails; and ongoing cooperation with the relevant regulatory authorities.
Our IOSCO Compliance Satement is available on the Resources page of this website.
Maintaining a strong governance structure and calculation methodology means we aim to keep our clients and index users informed of key elements of the business. We therefore invite those with an interest in our governance framework (The 20 Guiding Principles), calculation methodology overview and complaints policy to request copies using the enquiry form on this website or via email@example.com.
Colin Lunnon, Founder & Director
Prior to joining Indextus, Colin held numerous senior roles across multi-manager selection, asset allocation and portfolio risk management. Working at Barclays Wealth and Aviva Investors, amongst others. He is a Chartered Fellow of the CISI, a CFA charterholder and was a founding fund manager in an award winning multi-manager business. He started his career in finance in 1996, having previously gained a MSc in International Securities, Investment and Banking from the ICMA Centre at Reading University.
Stuart See, Analytics Director
Stuart began his career as an academic in the engineering faculty at the University of Birmingham after completing his PhD in 1995. He made the transition into financial markets as an equity analyst in 1998 before joining PricewaterhouseCoopers where his focus was to provide analytical insights into the drivers of shareholder value. Before joining Indextus he held directorships in several companies in South East Asia.