BME, the operator of all Spanish securities markets and financial systems, today announced the registration with the ESMA Register* of its main stock market indices. The Benchmarks Regulation (BMR)ensures the integrity and reliability of all European Union indices. In accordance with Article 34, the IBEX 35® index, the Spanish Stock Exchange’s benchmark, together with other indicators that make up the IBEX index family, meets all the criteria to act as an underlying for financial products.
Javier Hernani, CEO of BME, states that "we are proud to announce our main indices’ full compliance with BMR" and adds that "at BME we are committed to meeting the highest corporate governance, transparency and robustness standards of index management”.
BMR introduces a common regime to improve governance and controls over the benchmark process, the quality of input data and the methodologies used by benchmark administrators to ensure that they are sufficient and reliable. Additionally it ensures that contributors to benchmarks are subject to adequate controls to avoid conflicts of interest, in this way protecting consumers and investors as users of the benchmarks.
(*) BME appears as "Sociedad de Bolsas" in ESMA’s Register of Benchmark Administrators