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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