Strategic partnership with UBS to result in rebranding of Dow Jones-UBS Commodity Indexes as Bloomberg Commodity Indexes
NEW YORK - Thursday, April 10th 2014 [ME NewsWire]
(BUSINESS
WIRE) Bloomberg LP and UBS today announced a strategic partnership that
will result in Bloomberg Indexes being responsible for governance,
calculation, distribution and licensing of the bank's market leading
commodity indexes. The indexes will be renamed from the "Dow Jones-UBS
Commodity Index Family" to the "Bloomberg Commodity Index Family" as of
July 1.
"Benchmarks are at the heart of the financial system, and
benchmark independence is key to the transparency and efficiency of
global financial markets," said Dan Doctoroff, CEO and President of
Bloomberg LP. "By providing true independence to a leading index family
used by institutional investors and asset managers around the world,
Bloomberg continues to support the needs of our clients and the overall
marketplace."
Since launching in 1998, the rebranded Bloomberg
Commodity Indexes have emerged as a leading commodity index family. The
flagship index offers global, diversified exposure to 22 commodities via
the most liquid futures contracts, while a comprehensive set of
sub-indexes measure individual commodities and sectors, such as
agriculture, energy and metals.
This strategic partnership expands
Bloomberg and UBS's collaboration in providing industry leading
commodity benchmarks. In 2007, Bloomberg and UBS created the UBS
Bloomberg Constant Maturity Commodity Index (CMCI), an innovative index
family that provides diversified commodity exposure across the full
spectrum of the futures curve.
"With this partnership, UBS continues
to be a leading and innovative player in providing best-in-class
commodity benchmarks for our clients," said Edmund Carroll, UBS Global
Head of Commodities. "Bloomberg is a globally renowned index provider
and administrator and we are excited about the market leading solutions
and energy this partnership will bring to the commodity index space."
Srikant
Dash, Head of Bloomberg Indexes, said, "This agreement provides
independence for a leading market barometer and increases competition
among commodity benchmarks. We are pleased to expand our relationship
with UBS and will work closely with market participants to provide a
seamless transition."
The indexes will continue to be available for
distribution on multiple platforms. Additional index family and
transition information is available at
www.bloombergindexes.com/djubs-transition.
About Bloomberg Indexes
Bloomberg
Indexes, a part of Bloomberg LP, is the first truly global, independent
index provider for the fixed income, commodity and currency markets.
Tracking these underserved categories, Bloomberg Indexes meets the needs
of investors and product issuers with transparent, accessible and
solution-orientated benchmarks. The benchmarks are backed by Bloomberg’s
technology, vast datasets and broad cross-platform distribution across
institutional and media properties.
About Bloomberg
Bloomberg, the
global business and financial information and news leader, gives
influential decision makers a critical edge by connecting them to a
dynamic network of information, people and ideas. The company’s strength
– delivering data, news and analytics through innovative technology,
quickly and accurately – is at the core of the Bloomberg Professional
service, which provides real time financial information to more than
319,000 subscribers globally. Headquartered in New York, Bloomberg
employs more than 15,500 people in 192 locations around the world. For
more information, visit www.bloomberg.com/now/.
About UBS
UBS
draws on its 150-year heritage to serve private, institutional and
corporate clients worldwide, as well as retail clients in Switzerland.
Its business strategy [globally] is centered on its pre-eminent global
wealth management businesses and its leading universal bank in
Switzerland. Together with a client-focused Investment Bank and a
strong, well-diversified Global Asset Management business, UBS will
expand its premier wealth management franchise and drive further growth
across the Group.
Contacts
Bloomberg Media
Global:
Sabrina Briefel, 212-617-1993
sbriefel@bloomberg.net
Europe, Middle East & Africa:
Natalie Harland, 44-20-3525-8820
nharland1@bloomberg.net
Latin America:
Pam Snook, 212-617-7652
pamsnook@bloomberg.net
Asia:
Debbie Liew, 65-6212-1166
dliew2@bloomberg.net
UBS Media
Americas:
Megan Stinson, 212-713-1302
megan.stinson@ubs.com
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