Bolsas y Mercados Españoles
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Duties

The Committee functions are:

  • to supervise that the calculation of the Indices is carried out by the Manager in accordance with the Technical Regulations for the Composition and Calculation of the Sociedad de Bolsas, S.A. Indices then in force, and specially, using the calculation methodology described in the Technical Regulations;
  • to ensure that the benchmarks represent the market or economic reality that are intended to measure, and the proper operation of the Indices for use as an underlying index for trading in financial derivatives, that is, they continue to be appropriate, representative, and replicable;
  • reviewing periodically and at least once a year the methodology described in the Technical Regulations for Indices Calculation;
  • to request the administrator to consult on the substantial changes in the Technical Regulations for Indices Calculation, and specifically in the calculation methodology described in the Technical Regulations;
  • to report any proposal of modifications to the Technical Regulations; and to address the corresponding report to the Board of Directors of Sociedad de Bolsas for its approval
  • to address to the Board of Directors the recommendations about the oversight of the benchmarks;
  • overseeing the administrator's control framework, the management and operation of the benchmark;
  • reviewing and approving procedures for cessation of the benchmark, including any consultation about a cessation;
  • assessing internal and external audits or reviews, and monitoring the implementation of identified remedial actions; and,
  • reporting to the relevant competent authorities any misconduct by administrators, of which the oversight function becomes aware, and any anomalous or suspicious input data.

 

 

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