TOBAM approved as benchmark administrator
On 3 June 2019, well in advance of the January 2020 regulatory deadline, TOBAM became one of the first Autorité des marchés financiers (‘AMF’) approved Benchmark Administrators under the EU Benchmarks Regulation (‘BMR’). TOBAM is now included in the European Securities and Markets Authority (‘ESMA’) Register of Administrators as a Benchmark Administrator pursuant to Article 34 of the Benchmarks Regulation link here.
The BMR is a set common European Union (EU) standards developed to ensure the accuracy and integrity of financial benchmarks in response to various scandals involving the manipulation of interest rate benchmarks such as the LIBOR and EURIBOR. The BMR introduces a number of control framework, policies and procedures and supervision expectations aimed at preventing market manipulation and promoting good governance practices.
To date 37 administrators located both inside and outside the EU have been admitted to the ESMA register. Together with TOBAM, six of them are located in France.
TOBAM has been very proactive in seeking this registration by launching the process in June 2018.
TOBAM is committed to high standards in benchmark administration as well as the compliance with applicable regulatory standards and accepted industry practices.
TOBAM Maximum Diversification® range of indices were launched in 2011, based on original research, to help investors avoiding portfolio concentrations. TOBAM has established partnerships over the years with distributors worldwide to help provide our investment philosophy to investors around the world via ETF, mandates or funds based on 12 different indices. Assets under management for this capability have grown significantly over the years to reach over 1.3 billion USD (as of March 2019).