Moorgate Benchmarks, the index company driving change, today announced that it has been selected by Skytra, a wholly owned subsidiary of Airbus, to lead the Skytra Index Oversight Committee (SIOC). As required by EU benchmarks regulation, SIOC is the formal oversight function of the Skytra Price Indices, designed to benchmark the price of air travel in the various travel markets around the world.
Under the terms of the agreement, Moorgate Benchmarks worked with Skytra to establish SIOC and build governance structures and documentation to support Skytra’s benchmark administration business. Moorgate Benchmarks continues to provide technical advice on index management, index development and governance.
Gareth Parker, Chief Indexing Officer at Moorgate Benchmarks, will chair SIOC and will be responsible for liaising with Skytra and its regulators regarding the committee’s business. The committee will also review potential changes to index methodology; will ensure correct implementation of methodology and adherence to the code of conduct; and will scrutinise index calculation including any third-party data.
Matthew Tringham, co-founder of Skytra and Chief Strategy & Product Officer, said: “We are developing innovative financial products and services that will allow our industry to manage revenue-related risks for the first time, increasing price certainty and reducing volatility. Our partnership with Moorgate Benchmarks will allow us to continue to focus on developing solutions, in the knowledge that we have the highest standards of governance for our indices.”
Gareth Parker, Chief Indexing Officer and Chairman of Moorgate Benchmarks, said: “We are delighted to have been selected by Skytra, the innovative data and index provider, to lead governance for their Index Oversight Committee. We look forward to working with Skytra and its regulators to ensure the proper structures and methodologies are in place, in compliance with EU benchmarks regulation.”
Gareth was one of the four founding members of FTSE, and its Head of Index Research, Design and Development. Since 1992, he has held senior index research and governance roles at S&P, Russell Indexes and IPD. Gareth was responsible for the creation and / or management of some of the world’s best-known indices, including the FTSE 100, FTSE All-World, FTSE4Good, S&P Smart Beta Indices and IPD Property Indices, as well as many domestic indices such as the primary Greek, Cypriot and Belgian indices. Gareth is Chairman of the CBOE Europe Index Advisory Committee and the ROBO Global Index Oversight Committee.
