McGraw-Hill Companies, CME Group announce launch of S&P Dow Jones Indices
06 July 2012
The McGraw-Hill Companies, one of the world's foremost financial information companies, and CME Group, the world’s leading and most diverse derivatives marketplace, announced Thursday the launch of S&P Dow Jones Indices – the world’s largest provider of financial market indices. The S&P Dow Jones Indices calculates over 830,000 indices, publishes benchmarks that provide the basis for 575 ETFs globally with $387 billion in assets invested, and serves as the DNA for $1.5 trillion of the world’s indexed assets.
Combining S&P Indices’ leading position in equity, commodity, real-estate, and strategy indices with Dow Jones Indexes’ recognized strengths in equities, commodities, emerging markets, target dates, and dividend indices provides an opportunity to offer a complete and growing index family in more assets classes, for more investors throughout the world.
“S&P Dow Jones Indices represents the next generation of investing and a great partnership between the future McGraw-Hill Financial and the CME Group,” says Harold McGraw III, chairman, president and chief executive officer of McGraw-Hill. “What we have created today is an exceptional global leader that connects investors and financial professionals with the index-based investment ideas and solutions they need to make informed decisions. More assets are directly invested in products based upon our indices than any other index provider in the world, and that is the byproduct of our extraordinary leadership, adaptive platforms and distinctive product offerings.”
Terry Duffy, CME Group executive chairman and president, said, “CME Group’s diverse, globally relevant products are a key differentiator for our company, our customers and our investors. Building on our long-term partnership with McGraw-Hill, this new JV will create new risk management index products and trading opportunities for both our institutional and retail customers around the world. In addition, this transaction diversifies CME Group’s revenue base and creates value for our shareholders.”
Phupinder Gill, CME Group chief executive officer, said, “CME Group’s global growth strategy continues to focus on developing regionally relevant products, leading clearing solutions and world-class technology – as well as expanding our index services footprint. The newly launched JV creates opportunities for continued innovation to meet the needs of our customers in existing and emerging markets, including through CME Group’s long-term exclusive license to use the S&P 500® for futures and options on futures products going forward.”
Alexander Matturri, executive managing director of S&P Indices, has been named chief executive officer of S&P Dow Jones Indices and Lou Eccleston, president of S&P Capital IQ, will chair the company’s seven-member Board, which will be comprised of five directors designated by McGraw-Hill and two by CME Group which include: Robert Shakotko, managing director, S&P Dow Jones Indices; Charles Teschner, executive vice president, global strategy & corporate development, McGraw-Hill; Elizabeth O’Melia, senior vice president, treasury operations, McGraw-Hill; John Pietrowicz, senior managing director, business development and corporate finance, CME Group; and Scot Warren, senior managing director, equity index products and index services, CME Group.
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