Following FCA BMR Approval, Markit Preps for Uptick in Index Admin Business

The vendor anticipates that many financial firms acting as "self-administrators" of proprietary indexes will choose to enlist a third party to comply with the upcoming BMR regulation.

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Mark Schaedel, managing director and head of index administration services at IHS Markit, says the vendor is currently onboarding the sixth client for its index administration services—where IHS Markit calculates, maintains and operates an index on behalf of but independently from its owner—in addition to existing clients HSBC, UBS and Standard Life Aberdeen (the merger of Standard Life and Aberdeen Asset Management), and other, unnamed firms. In addition, “several dozen” other firms are conside

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