Governance

S&P DJI has an extensive history of delivering robust and transparent benchmarks to the financial industry and always endeavors to deliver high quality benchmarks in conformity with our core values and in compliance with all applicable laws and regulations as well as industry standards and guidelines. S&P Global's Code of Business Ethics coupled with S&P DJI policies and procedures set the standard for an effective governance program. These rigorous and comprehensive policies and procedures reflect our longstanding commitment to avoid conflicts of interest, govern our indices transparently, and adopt best practices.


Governance Framework

S&P DJI's governance and control framework is designed to protect the integrity and quality of our benchmarks as well as comply with applicable regulatory standards and accepted industry practices. This framework includes independence in the development, maintenance and distribution of benchmarks, clear separation of distinct functions and duties across the organization to ensure effective conflicts of interest mitigation and management, an oversight function that effectively monitors, maintains and enforces S&P DJI policies and procedures, and a robust quality review program. We ensure proper execution of this framework through our independent Index Committee governance function, ongoing oversight from Legal, Compliance and Risk functions, and a third-line assurance program.


Supplemental Data

Brazil (English)

Brazil (Portuguese)

Colombia (English)

Colombia (Spanish)

Europe

Israel


Contacts

Legal Department

legalsupport@spglobal.com

Compliance Department

spdji_compliance@spglobal.com

Client Services

index_services@spglobal.com

Internal Oversight and Industry Alignment

  • IOSCO Documents

    S&P DJI's Management Statement of Adherence of the IOSCO Principles alongside the results of a reasonable assurance examination of such statements performed by an internationally recognized independent audit firm.

    Summary Statement
    Adherence Review
  • Index Industry Association Document

    S&P DJI’s summary letter regarding alignment with the Index Industry Association’s Best Practices.

    Summary Statement
  • Internal Oversight

    The S&P DJI Internal Oversight Committee comprises representatives from the Compliance, Legal, and Risk oversight functions. The Committee’s mission is to oversee S&P DJI’s compliance with its Benchmark governance, quality, and operational standards. Among other responsibilities, the Committee reviews S&P DJI’s adherence with its policies, monitors applicable regulatory developments, and serves as an escalation body for the Index Governance function.

  • EU Benchmark Regulation FAQ

    From January 1, 2018 a new EU regulation will apply to the use of, provision of and contribution to indices used as financial benchmarks in the EU. Learn more about the objectives, timing and requirements of this regulation as it relates to S&P Dow Jones Indices through our FAQ.

Policies

  • Complaint Governance

    S&P DJI takes all feedback seriously. Our employees are able to anonymously submit concerns or complaints via telephone or web-based tool managed by a third party. External complaints related to the benchmark administration process can be submitted via telephone or through our website on the Contact Us page. All complaints will be reviewed and handled in accordance with our Complaints Handling Policy.

  • Third Party Governance

    As data integrity is critical to our index production processes, S&P DJI holds all vendors providing data services to high quality and control standards. The Data Submitter Code of Conduct outlines expectations for vendors providing non-regulated input data to value or price the underlying constituents of an index in the calculation process.

Index Governance

  • Index Committee and Governance Function

    S&P DJI’s Index Committees serve as the index governance body and oversee the design, maintenance, and publication of S&P DJI’s indices. Index Committees seek to ensure indices are maintained in accordance with their respective methodology, reviewing all methodologies to ensure they continue to achieve their stated objectives, and overseeing any changes to an index and/or methodology. All Index Committee members must meet specified core competency, tenure, and experience requirements. 

  • Stakeholder Engagement

    To ensure full transparency around our indices and their possible evolution, S&P DJI invites stakeholders to provide feedback on potential material changes to an index methodology through a consultation request process. Notification of consultation requests and results are posted on our website.

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