Change of Solactive Committee Structure | 2 October 2023
Today, on 2 October 2023, Solactive AG (“Solactive”) announces a change of its committee structure that takes effect immediately.
Solactive currently maintains an Oversight Committee that is responsible for a variety of decisions related to the administration and management of Solactive Indices.
To improve and strengthen the internal governance structure Solactive created a new Index Committee, which will operate in addition to the already existing Oversight Committee and takes over some of the tasks and responsibilities currently entrusted to the Oversight Committee. The Index Committee is responsible for decisions and approvals of index-maintenance related matters, in particular approval of methodology changes and decisions on exceptional events treatments assigned to the Index Committee in the respective Index Guideline, Index Methodology documents or Solactive’s Policies (Correction Policy, Disruption Policy and Termination Policy). The Index Committee is composed of staff from Solactive and its subsidiaries.
Furthermore, the new committee structure is intended to accelerate decision-making processes for index-related matters and to align them with general market practice.
In connection with the introduction of the Index Committee, a fundamental revision of the Solactive Methodology Policy was also conducted. The amended version of the Solactive Methodology Policy is available on Solactive website: https://www.solactive.com/documents/methodology-policy/.
Change[s] to the Index Guidelines
As this change of the committee structure affects all Solactive Indices, Solactive will not modify Index Guidelines of existing Indices to account for the creation of the Index Committee.
Accordingly, all references to the Oversight Committee in the Index Guidelines of existing Indices in the context of decisions and approvals of index-maintenance related matters will be construed and have to be understood as references to Index Committee.
Defined terms used in this announcement, but not defined herein, have the meaning assigned to them in the Index Guideline of the respective Solactive Indices.