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FTSE AIM Index Series Family Benchmark Statement FTSE AIM Index Series Family September 2021 v1.8 FTSE Russell An LSEG Business | FTSE AIM Index Series Family 1 This benchmark statement is provided by FTSE International Limited as the administrator of the FTSE AIM Index Series Family. It is intended to meet the requirements of EU Benchmark Regulation (EU2016/1011) and the supplementary regulatory technical standards and the retained EU law in the UK (The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019). The benchmark statement should be read in conjunction with the FTSE AIM Index Series Ground Rules or other index series ground rules detailed on the website and other associated policies and methodology documents. Those documents are italicised whenever referenced in this benchmark statement and are included as an appendix to this document. They are also available on the FTSE Russell website (www.ftserussell.com). References to “BMR” or “EU BMR” in this benchmark statement refer to Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds. References to “DR” in this benchmark statement refer to Commission Delegated Regulation (EU) 2018/1643 of 13 July 2018 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council with regard to regulatory technical standards specifying further the contents of, and cases where updates are required to, the benchmark statement to be published by the administrator of a benchmark. References to “UK BMR” in this benchmark statement refer to The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019. FTSE Russell An LSEG Business | FTSE AIM Index Series Family 2 Ref Regulatory requirement FTSE International Limited’s Response 1. General Information 1.1 Date of The benchmark statement shall state the date of Date of publication publication and last publication of the statement and, where First published June 2018 update applicable, the date of its last update. DR 1(1)(a) Date of last update September 2021 1.2 Review of The administrator shall review and, where FTSE International Limited is the administrator of the FTSE AIM Index Series Family. FTSE benchmark necessary, update the benchmark statement for International Limited will review this benchmark statement regularly (at least once every two statement each benchmark or family of benchmarks in the years) or whenever there are material changes to the information provided. event of any changes to the information to be BMR27(1) provided under this Article and at least every two years. 1.3 Use of ISIN The benchmark statement shall state, where FTSE International Limited does not currently assign ISINs to all of the indices for which it is available, the international securities the administrator. Where ISINs have been assigned they can be found in the ISIN Codes for DR 1(1)(b) identification number (ISIN) of the benchmark or FTSE Russell Indices document. benchmarks; alternatively, for a family of benchmarks, the statement may provide details of where the ISINs are publicly accessible free of charge. 1.4 Contributions of The benchmark statement shall state whether The FTSE AIM Index Series Family does not use contributions of input data. Refer to 2.7 for input data the benchmark or any benchmark in the family further detail on input data. of benchmarks is determined using contributions DR 1(1)(c) of input data. 1.5 Regulated-data Specific disclosure requirements for regulated- The FTSE AIM Index Series Family is a regulated-data benchmark for the purposes of UK benchmark data benchmarks. BMR or EU BMR. disclosures The benchmark statement shall state whether Some constituent prices are sourced from venues other than those specified in Article the benchmark or any benchmark in the family 3(1)(24)(a) of EU BMR. of benchmarks qualifies as a regulated-data DR 1(d) benchmark including the specific provision by which the benchmark qualifies as that type, as listed under Title III of BMR. DR 2 In addition to the information to be included pursuant to Article 1, for a regulated-data benchmark or, where applicable, family of regulated-data benchmarks, the benchmark FTSE Russell An LSEG Business | FTSE AIM Index Series Family, v1.8, September 2021 3 Ref Regulatory requirement FTSE International Limited’s Response statement shall state at least the following in its description of the input data: (a) indicate the benchmark’s qualification as a regulated-data benchmark; (b) the source of the input data used; and (c) for each source, the relevant type, as listed in Article 3(1)(24) of Regulation (EU) 2016/1011. 1.6 Significant and Specific disclosure requirements for significant The FTSE AIM Index Series Family includes only non-significant benchmarks according to non-significant and non-significant benchmarks: point 27 of Article 3(1) of EU BMR. benchmarks The benchmark statement shall state whether disclosure the benchmark or any benchmark in the family of benchmarks qualifies as a significant or non- DR 1(d) significant benchmark including the specific provision by which the benchmark qualifies as that type, as listed under Title III of BMR. 2. Content 2.1 Market reality The benchmark statement shall clearly and The FTSE AIM Index Series Family is designed to represent the performance of companies unambiguously define the market or economic quoted on the AIM Market (AIM) of the London Stock Exchange. BMR27(1)(a) reality measured by the benchmark and the circumstances in which such measurement may The eligibility criteria for constituents are set out in the FTSE AIM Index Series Ground Rules. become unreliable. The constituents of each index within the FTSE AIM Index Series Family are drawn from the constituents of the corresponding underlying index as defined in the FTSE AIM Index Series Ground Rules (‘the underlying indices’). The base currency of the FTSE AIM Index Series Family can be found in the FTSE AIM Index Series Ground Rules The indices within the FTSE AIM Index Series Family include benchmarks that measure the performance of various market segments. The benchmarks include (examples in brackets): • benchmarks for different shares (FTSE AIM All-Share Index); • benchmarks for different ICB Supersectors (FTSE AIM All-Share Supersector Indices); • benchmarks for different market capitalisations (FTSE AIM 100 Index, FTSE AIM UK 50). Benchmarks may also be calculated using different calculation rules. Examples include: • benchmarks calculated on a price (capitalisation) basis. Details of the calculation methodologies employed are set out in the FTSE AIM Index Series Ground Rules. FTSE Russell An LSEG Business | FTSE AIM Index Series Family, v1.8, September 2021 4 Ref Regulatory requirement FTSE International Limited’s Response The FTSE AIM Index Series Family uses as input data official closing prices sourced via vendors from the London Stock Exchange. The measurement of the underlying economic reality might become unreliable if the London Stock Exchange ceased to operate but the constituent securities continued to trade elsewhere, either over-the-counter or on other venues. 2.2 Use of The benchmark statement shall lay down The Ground Rules, policies and methodology documents listed in the appendix underpin the discretion technical specifications that clearly and FTSE AIM Index Series Family and are written with the intent of removing the need for unambiguously identify the elements of the judgement or discretion to be exercised in so far as is feasible. BMR27(1)(b) calculation of the benchmark in relation to which discretion may be exercised, the criteria In circumstances where a known future event is not captured by the methodology documents, applicable to the exercise of such discretion and or where a decision to recalculate or correct an index calculation issue is not clear, the the position of the persons that can exercise Exercise of Expert Judgement in FTSE Russell Indices policy sets out the procedures that will discretion, and how such discretion may be be followed to determine the appropriate index treatment. This treatment will be consistently subsequently evaluated. applied to the FTSE AIM Index Series Family and all other affected indices in line with the polices in the appendix. 2.3 External factors The benchmark statement shall provide notice FTSE International Limited hereby provides notice to users of the FTSE AIM Index Series of the possibility that factors, including external Family that it is possible that circumstances, including external events beyond the control of BMR27(1)(c) factors beyond the control of the administrator, FTSE International Limited, may necessitate changes to, or cessation of, the index series may necessitate changes to, or the cessation of, family. the benchmark. Further information about such factors is detailed in the Index Series Decommissioning Statement. 2.4 Changes to/ The benchmark statement shall advise users Changes to, or the cessation of, the FTSE AIM Index Series Family may have an impact upon cessation of that changes to, or the cessation of, the any financial contracts and financial instruments that reference the FTSE AIM Index Series benchmark benchmark may have an impact upon the Family or the measurement of the performance of investment funds. Any financial contracts or financial contracts and financial instruments that other financial instruments that reference the index series family or investment funds which use BMR27(1)(d) reference the benchmark or the measurement of the FTSE AIM Index Series Family to measure their performance should be able to withstand, the performance of investment funds. or otherwise address the possibility of changes to, or cessation of, the index series family. 2.5 Definitions of A benchmark statement shall contain at least The definitions of all key terms relating to the FTSE AIM Index Series Family can be found in key terms the definitions for all key terms relating to the the Glossary of Terms used in FTSE Russell Equity Methodology Documents.
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