FTSE Russell Develops New Policy Benchmarks for Afore XXI-Banorte
— Index project strengthens relationship with largest pension fund in Mexico
— Underpins FTSE Russell cooperation agreement with PiP across Latin America
— Continues global diversification strategy and market growth throughout region
FTSE Russell, the global index and data provider, in partnership through its FTSE TMX Global Debt Capital Markets cooperation agreement with Proveedor Integral de Precios (PiP), the leading multi-national price vendor in Latin America, today announced the development of a new set of policy benchmarks for Afore XXI-Banorte, the largest pension fund in Mexico.
The new benchmarks reflect strong collaboration between regulators, Afore XXI-Banorte, FTSE Russell and PiP and are intended to be tools which can be used by institutional investors as part of their long term asset allocation decision making policy. The core methodology was created using replicable indexes for equities and local fixed income, with constituents selected from the FTSE Global Equity Index Series (FTSE GEIS) as well as FTSE PiP fixed income indexes. Universal principles guide FTSE Russell index design and management, including a transparent rules-based methodology.
Fernando Lifsic, LatAm Managing Director at FTSE Russell, said:
“We are pleased to have contributed our expertise on benchmarks to this project with Afore XXI-Banorte. FTSE Russell is committed to the ongoing growth and development of the Mexican financial market, and these new policy benchmarks fulfill demand for an index set that is investable, transparent and independent.”
Tonatiuh Rodriguez, CEO of Afore XXI Banorte, added:
“Our commitment to the pension fund system in Mexico is a priority and this joint effort reflects our philosophy to optimize the investment regime and fiduciary responsibility with our affiliates. As we continue to innovate, we believe these benchmarks will help strengthen the investment process and governance of Afore XXI-Banorte in line with the regulatory goal for a more efficient retirement system. This project was a result of strong common effort between FTSE Russell and Seagal RogerCasey, companies that are worldwide leaders.”
FTSE Russell is part of London Stock Exchange Group (LSEG), which provides significant capital markets infrastructure across Latin America. FTSE Russell recently opened an office in Mexico City and appointed David Estefan as Country Head for Mexico and Colombia. In 2014, FTSE Russell opened its first office in Brazil and entered into a cooperation agreement for fixed income indexes with PiP, which manages over 120 government and corporate bond indexes in Mexico, Colombia, and Peru. MillenniumIT, LSEG’s technology firm, powers the trading platform for Bolsa de Valores de Lima in Peru, which helps bring connectivity through the entire MILA (Mercado Integrado Latino Americano) region, and is developing a new securities trading platform for Caja de Valores SA in Argentina, which is expected to go-live later this year. At present, there are 41 Latin American companies listed on LSEG’s London markets.
For further information:
Americas Press Office
Mark Benhard, +1 212 314 1199
About FTSE Russell:
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 80 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $10 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance, and embraces the IOSCO principles. FTSE Russell is also focused on index innovation and client collaboration as it seeks to enhance the breadth, depth and reach of its offering. For more information, visit www.ftserussell.com.
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. The Group can trace its history back to 1698.
The Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (Europe's leading fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, including retail investors, institutions and SMEs unrivalled access to Europe’s capital markets. The Group also plays a vital economic and social role, enabling companies to access funds for growth and development.
Through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with approximately $10 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, XTF and RNS.
Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of LCH.Clearnet Group, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house; Monte Titoli, a leading European custody and settlement business; and globeSettle, the Group’s CSD based in Luxembourg.
LSEG is a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. MillenniumIT, GATElab and Exactpro are among the Group’s technology companies.
Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 3,500 people. Further information can be found at www.lseg.com.
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