About Barclays Index Administration

Benchmarks Regulation (EU) 2016/1011

Barclays Bank PLC (“BBPLC”) is the administrator of the quantitative investment strategy (“QIS”) indices. Governance of QIS indices is the responsibility of Barclays Index Administration (“BINDA”) pursuant to a control framework. The control framework is designed to ensure that QIS index provision by BBPLC complies with the:

1. EU Benchmarks Regulation; and
2. IOSCO Principles for Financial Benchmarks.

The implementation and effectiveness of the control framework is overseen by the Administration Oversight Forum ("AOF"). AOF membership includes non-voting representation from Legal and the 2nd Line of Defence (Market Risk and Compliance).

For information on the governance or oversight of QIS indices, please contact BINDA via email at barclaysindexadministration@barclays.com

Benchmarks Regulation (EU) 2016/1011

BBPLC is regulated by the UK’s Financial Conduct Authority ("FCA") as a benchmark administrator for the purposes of the EU Benchmarks Regulation (the "Regulation"). BBPLC currently provides only non-significant benchmarks, as defined in the Regulation. For information on the various QIS benchmark families, please see the benchmark statements published on this page.

IOSCO Principles for Financial Benchmarks

BBPLC’s self-assessment is that the control framework for QIS indices is proportionately compliant with the IOSCO Principles for Financial Benchmarks. Please see the IOSCO Statement of Compliance published on this page for details of BBPLC’s use of proportionality.

Important disclosures relating to conflicts of interest

To protect the integrity of the QIS indices, BBPLC has in place a control framework designed to identify and remove and/or mitigate (as appropriate) conflicts of interest. Within the control framework, BINDA has the following specific responsibilities:

• oversight of any third party index calculation agent;
• acting as approvals body for index lifecycle events (index launch, change and retirement); and
• resolving unforeseen index calculation issues where discretion or interpretation may be required (for example: upon the occurrence of market disruption events).

To promote the independence of BINDA, the function is operationally separate from BBPLC’s sales, trading and structuring desks, investment managers, and other business units that have, or may be perceived to have, interests that may conflict with the independence or integrity of the QIS indices.

BBPLC outsources day-to-day index calculation of QIS indices to trusted third parties, subject to BINDA’s oversight. By outsourcing QIS index calculation, BBPLC further ensures the independence of index provision from business units with potential conflicts of interest.

Notwithstanding the foregoing, potential conflicts of interest exist as a consequence of BBPLC providing QIS indices alongside its other businesses. Please note the following in relation to the QIS indices:

• BBPLC may act in multiple capacities with respect to a particular QIS index including, but not limited to, functioning as index sponsor, index administrator, index owner and licensor.
• Sales, trading or structuring desks in BBPLC may launch products linked to the performance of a QIS index. These products are typically hedged by BBPLC’s trading desks. In hedging a QIS index, a trading desk may purchase or sell constituents of that index. These purchases or sales may affect the prices of the index constituents which could in turn affect the level of that index.
• BBPLC may establish investment funds that track a QIS index or otherwise use a QIS index for portfolio or asset allocation decisions.

Benchmark statements