Beeland Interests partners with Moorgate Benchmarks
Beeland Interests, the owner and administrator of Jim Rogers’ Rogers International Commodity Index and RICI Enhanced indices, and index company Moorgate Benchmarks, are partnering to further enhance RICI's European presence and to ensure its indices can continue to be used without interruption within Europe following the introduction of the EU and UK Benchmarks Regulation (BMR).
Beeland Interests, a third country index administrator that has been preparing for its BMR obligations, has partnered with Moorgate Benchmarks to submit its application to become a recognised benchmark administrator under UK BMR. Moorgate Benchmarks will become Beeland Interests’ UK Legal Representative, providing the formal oversight required for authorisation, and has been appointed as a Member of the RICI Enhanced Committee.
In due course, Moorgate will submit the appropriate application to the EU regulators to allow uninterrupted usage of the RICI indices under the EU BMR. These actions will enable clients in both the UK and EU to continue to use the RICI and RICI Enhanced indices once the post-Brexit transition periods for both BMRs end.
Jim Rogers, CEO of Beeland Interests, Inc, says: “We are proud of RICI’s global reputation as an effective measure of the price action of raw materials around the world. Our partnership with Moorgate Benchmarks allows the RICI team to continue to focus on the indices in the knowledge that they meet global standards of excellence in index governance.”
Gareth Parker, Chief Indexing Officer at Moorgate Benchmarks, says: "Recognition of indices under UK and EU Benchmarks Regulation is a stamp of approval that gives index users confidence in the accuracy and governance of the indices they rely on. Moorgate Benchmarks is delighted to be working with Beeland Interests on the world-leading RICI and RICI Enhanced indices, to ensure investors and product providers can continue to use them as benchmarks within the UK and EU.”