Iosco softens index approach on final benchmark principles

The structured products industry has welcomed Iosco's publication of benchmark principles that promote softer treatment for equity indexes

Frederic Ducoulombier, Edhec

The International Organisation of Securities Commissions' (Iosco) final version of the Principles for Financial Benchmarks, published on July 17, comes after market participants submitted comments on the principles' draft, published in April. By then, the organisation had already set out two sets of principles: general ones that could be applied to all types of benchmarks; and a more specific set that would affect the interbank benchmarks, such as Libor or Euribor.

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