Exchange Data International (EDI), a provider of global security corporate actions, pricing, and reference data services, has partnered with XTAL Strategies, with the aim of supporting XTAL’s new regulated private market benchmark initiative.
The benchmarking initiative is launched in anticipation of the EU Benchmark Regulation (BMR – EU 2016/1011), coming into force in 2022, and will require EU-supervised users of indices to only use benchmarks that comply with the EU BMR. The EU regulation will impact investors and financial service providers globally.
XTAL Strategies predicts the adoption of EU BMR standards will make current private market investor benchmarking tools obsolete, leaving some investors without an underlying objective benchmarking reference. XTAL Private Market Benchmarks aim to fill that gap with this compliant, transparent, accurate, and representative private market benchmark initiative.
Jonathan Bloch, CEO at EDIJonathan Bloch, CEO at EDI, says: “EDI undertakes outsourcing for many different organisations and companies around the world. Leveraging our decades of experience in gathering and aggregating information over the years, EDI has linked up with XTAL to gather detailed information to construct private equity indices on unlisted private market funds.”
Massimiliano-Saccone, CEO at EDIMassimiliano Saccone, CEO at XTAL, says: “XTAL Private Market Benchmarks are best positioned globally to be in the scope of the BMR regulation for private market investments. With broader segments of investors and regulators paying increasing attention, market participants will demand and rely upon benchmarks that are accurately calculated, objective and unbiased. XTAL has proven it has the experience and vision to provide such instruments and take this asset class to another level.”