Beeland Interests, Inc. (Beeland Interests), the owner and administrator of Jim Rogers’ world-renowned Rogers International Commodity Index and RICI Enhanced indices, and Moorgate Benchmarks, the index company driving change, today announced an extensive partnership to further enhance RICI’s European presence and to ensure its indices can continue to be used without interruption within Europe following the introduction of the EU and UK Benchmarks Regulation (BMR).
Beeland Interests, a third country index administrator that has been preparing for its BMR obligations, has partnered with Moorgate Benchmarks to submit its application to become a recognised benchmark administrator under UK BMR. Moorgate Benchmarks will become Beeland Interests’ UK Legal Representative, providing the formal oversight required for authorisation, and has been appointed as a Member of the RICI Enhanced Committee.
In due course, Moorgate will submit the appropriate application to the EU regulators to allow uninterrupted usage of the RICI indices under the EU BMR. These actions will enable clients in both the UK and EU to continue to use the RICI and RICI Enhanced indices once the post-Brexit transition periods for both BMRs end.
Jim Rogers, CEO of Beeland Interests, Inc, said: “We are proud of RICI’s global reputation as an effective measure of the price action of raw materials around the world. Our partnership with Moorgate Benchmarks allows the RICI team to continue to focus on the indices in the knowledge that they meet global standards of excellence in index governance.”
Gareth Parker, Chief Indexing Officer at Moorgate Benchmarks, said: “Recognition of indices under UK and EU Benchmarks Regulation is a stamp of approval that gives index users confidence in the accuracy and governance of the indices they rely on. Moorgate Benchmarks is delighted to be working with Beeland Interests on the world-leading RICI and RICI Enhanced indices, to ensure investors and product providers can continue to use them as benchmarks within the UK and EU.”
About Beeland Interests
Beeland Interests, Inc is the administrator of the Rogers International Commodity Index® (“RICI®”), a composite, U.S. dollar-based, total return index designed by James B. Rogers, Jr. The RICI® was designed to meet the need for consistent investing in a broad based international vehicle; it represents the value of a basket of commodities consumed in the global economy, ranging from agricultural to energy to metals products. The RICI® and RICI Enhanced® indices aim to be an effective measure of the price action of raw materials not just in the United States but also around the world.
About Moorgate Benchmarks
Moorgate Benchmarks’ mission is to enable index providers and product issuers to create new products that deliver true choice to all investors. Experts in designing, optimising, managing and calculating indices for clients; streamlining operations through leading-edge technology; and implementing governance systems to meet the requirements of best practice and regulations worldwide, the firm is driving change to challenge an industry ripe for disruption. For more information, please visit www.moorgatebenchmarks.com or follow us on LinkedIn and Twitter @MoorgateBenchm1.
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