Benchmark GOVERNANCE & Regulation

Our Role as a Benchmark Administrator  

SIPA has demonstrated a commitment to high standards of benchmark administration through its adoption of IOSCO principles and compliance with the EU benchmark regulation. Here we outline SIPA's regulatory status as a benchmark administrator under the EU benchmark regulation ("EU BMR"). 

SIPA Pte Ltd secured authorization from ESMA as an EU benchmark administrator for SIPA infra300 and infra100 unlisted equity indices, infraDebt100 private debt indices, and InfraGreen index on 20 Septmber 2022. Subsequently, SIPA expanded its regulated benchmark coverage to privateMetrics. SIPA operates as an EU regulated benchmark administrator, authorized under Article 32 of the EU BMR and listed on the ESMA register.  

Under Article 6.5 of the EU BMR, SIPA clients may request access to the SIPA BMR Control Framework by request. 

Benchmark Statements 

ESG Disclosures 

  • ESG disclosures for indexes follow the amended EU BMR (based on Commission Delegated Regulation (EU) 2020/1816 of July 17, 2020) requirements. 
  • ESG factors in benchmark statements, where relevant, are accessible through the individual benchmark statements. 
  • ESG factors in methodologies can be found alongside the methodology documents governing specific SIPA indexes within the respective benchmark families. 

List of Benchmarks 

  • The comprehensive list of SIPA indexes within the infra300, infra100, infraDebt100, InfraGreen, and privateMetrics index benchmark families eligible under EU BMR is available to clients upon request. 

 

Index Oversight Committee

The Index Oversight Committee oversees and reviews actions relating to the regulated benchmarks, helping to promote the integrity of all aspects of the provision of the benchmarks administered by the Company.
  • Chairman: Xavier Gendre

  • Voting members: Edward Grossi, Moataz Farid

Index Review Committee

The Index Review Committee is responsible for interpreting index methodologies in exceptional cases when discretion is required in the application of the Index determination and calculation rules in the Company.
  • Chairman: Abhishek Gupta

  • Voting members: Jack Lee, Srinivasan Selvam; Non-voting members: Tim Whittaker

Research and Index Offering Committee

The Research and Index Offering Committee is the decision-making authority in matters of methodologies for new offering and changes to existing methodologies and cessation of existing benchmarks in the Company.
  • Chairman: Tim Whittaker

  • Voting members: Fabrice Lee Choon, Jianyong Shen

  • Non-voting members: Abhishek Gupta

EU Benchmarks Regulation

The Regulation (EU) 2016/1011, entered into force on 30 June 2016 and since 1 January 2018, its provisions apply and affects both EU and non-EU entities that administer indices that are used in the EU as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds. This Regulation aims to "ensure the accuracy and integrity of indices used as benchmarks in financial instruments and financial contracts, or to measure the performance of investment funds in the Union."

In compliance with EU Benchmark Regulation (BMR), Scientific Infra Pte. Ltd., the benchmark administrator for the EDHECinfra indices, establishes governance, processes, and controls for the calculation and reporting of its benchmarks.

On 20 September 2022, Scientific Infra Pte. Ltd. acquired Recognition by the European Securities and Markets Association (ESMA) as a third-country administrator in accordance with Article 32 of the EU BMR. The benchmarks provided by Scientific Infra Pte. Ltd. that acquired Recognition by ESMA are listed and maintained in the Register (ESMA Registers (europa.eu)) under Article 36 of the EU BMR.

Benchmark Statements

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infra300 and infra100 unlisted equity indices

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infraDebt100 private debt  indices

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InfraGreen index family

Index Documentation

infraMetrics index calculation and construction methodologies are available here.

Index Governance & Policies

infraMetrics indices are governed by state-of-the-art rules and committees in accordance with IOSCO principles and guidance.

  • Index Methodology Change and Consultation Policy - Download
  • Complaint Policy - Download
  • Index Recalculation Policy - Download
  • Index Termination Policy - Download
  • Outsourcing Management Framework and Policy - Download
  • Trading Halt and Market Disruption Policy - Download
  • Whistle Blowing Policy - Download