Rules-based Investing: MerQube UK Receives FCA Authorization as Benchmark Administrator Under Benchmarks Regulation

MerQube UK Limited, a key player focused on the development of technology for indexing and rules-based investing, announces that it has been authorized by the UK’s Financial Conduct Authority (FCA) “to carry on the regulated activity of administering benchmarks under Article 34 of the Regulation (EU) 2016/1011/EU) – Benchmarks Regulation (UK BMR).”

MerQube’s BMR authorization is considered to be “a reflection of the company’s high standards in benchmark administration and the quality, reliability and integrity of its benchmark services.”

The FCA authorization will allow MerQube “to provide benchmark services to its clients in the UK.”

Keith Loggie, COO at MerQube, commented:

“Achieving BMR authorisation is a reflection of our high standards and commitment to best practices. We are very proud that our state-of-the-art technology, system infrastructure and governance controls meet this global standard of excellence in the provision of index services.”

Roby Muntoni, CCO at MerQube and CEO at MerQube UK, commented:

“By successfully registering for this globally respected regulation we can further accelerate our plans to roll out the provision of high tech support and services to our indexing clients in the UK and throughout Europe.”

MerQube’s inclusion on the FCA register can be found here.

In September 2022, MerQube “confirmed adherence to IOSCO (International Organisation of Securities Commissions) principles for Financial Benchmarks.”

MerQube’s other recent accomplishments “have included assuming calculation and administration services for the UBS CMCI index family, a family of 1,100+ of UBS’s most innovative commodity indices.”

MerQube also recently “announced the MerQube MicroSectors™ U.S. Travel Index, tracked by The MicroSectors Travel lineup of exchange traded notes and the MerQube InGenx US LargeCap 1Y ATM Call Index.”

In 2021, MerQube launched the US Tech + Vol Advantage Index, linked to one of the most successful structured notes during the year. MerQube is also the benchmark provider for most of the defined outcome ETFs issued in the USA.

As noted in the update, MerQube is “an innovative technology provider offering design and calculation solutions for rules based investment strategies and passive solutions.”

Launched in 2019 by a team of index industry veterans and technology experts, MerQube was created “as a technology driven answer to the most complex rules-based investment strategies.”

MerQube today “calculates a wide variety of strategies, ranging from defined outcome to volatility and risk control, from end of day to real time calculations.”

MerQube’s capabilities “extend to any rebalancing schedule, including intraday, and incorporate sophisticated TWAP and VWAP algorithms.”

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