MSCI, S&P Indices and FTSE have created a global trade body for the index industry, called the Index Industry Association (IIA).

The IIA will form an official, representative body, with a remit that includes educating investors on the attributes and role of indices within the investment process and advocating the interests of index users and providers worldwide.

The IIA will function as an independent organization with dedicated resources, representing a global membership from its headquarters in New York. The IIA will be open to membership from index businesses worldwide.

The respective chief executives of MSCI, S&P Indices and FTSE; Henry Fernandez, Alexander Matturri and Mark Makepeace said the launch of the association signifies an important milestone for the index industry. “The IIA will promote the agenda of our industry and push for new, universal standards for best practice, independence and transparency,” a statement said.

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