ROBO Global registers as benchmark administrator under BMR
LONDON, October 15th 2019 – ROBO Global®, the world's premier provider of indices in the fields of robotics, automation, AI and healthcare, and Moorgate Benchmarks, the index company driving change, today announced that ROBO Global® has appointed Moorgate Benchmarks as its EU legal representative. This will ensure compliance with the new EU Benchmarks Regulation (BMR), which comes into full effect on January 1st 2020.
In advance of the BMR coming into force, ROBO Global® has secured authorisation from the Financial Conduct Authority (FCA) as a Benchmark Administrator. The FCA authorisation will allow the company to continue offering its best-in-class indices to EU-based clients in compliance with BMR. The selection of Moorgate Benchmarks as legal representative builds on an existing partnership that includes the provision of index design, optimisation and governance services.
Richard Lightbound, CEO EMEA of ROBO Global, said: “ROBO Global created the first benchmark index tracking the global robotics and automation market. Our expert team of staff and advisors are focused on conducting deep research, identifying new robotics trends, understanding new innovations and exploring every company in our ecosystem to continue our leadership in this space. Our partnership with Moorgate Benchmarks allows us to continue to focus on our core strengths in the knowledge that our indices have the best possible governance and meet global standards of excellence in index design.”
Gareth Parker, Chief Indexing Officer of Moorgate Benchmarks, said: “Recognition of indices under the EU Benchmarks Regulation gives investors and advisers confidence in the accuracy and governance of the indices they rely on. We are delighted to be expanding our partnership with ROBO Global, and other third country index providers, to ensure indices remain compliant following the BMR’s entry into force."