09 Dec 2020, 10:21:09 AM IST
Sebi suggests compliance standards for index providers
Markets regulator Sebi on Tuesday proposed a set of compliance standards for index providers, which design and develop indices, in a bid to ensure quality and integrity of such gauges.
The suggested framework is based on IOSCO (International Organization of Securities Commissions) principles, practices observed in the foreign jurisdictions and suitability for domestic markets, Sebi said in a consultation paper.
The regulator proposed that the index provider should be compliant with ‘Principles for Financial Benchmarks’ set out by IOSCO, both on initial and continuous basis.
The major indices on the NSE are managed by NSE Indices, a NSE group company, which maintains indices comprising broad-based benchmark indices, sector indices and customised indices.
At BSE, the major indices, including Sensex, are managed by Asia Index Pvt Ltd, a 50-50 joint venture between the exchange and S&P Dow Jones Indices Llc, the world’s largest provider of financial market indices.
#Sensex #hits #46k #Nifty #Kotak #Bank #ITC #top #gainers