Fifth annual William F. Sharpe Indexing Achievement Awards recognised Standard & Poor’s US Commercial Paper Index as Most Innovative Benchmark Index.
The awards are produced by the Index Business Association (IBA) and Information Management Network (IMN) at the Super Bowl of Indexing Conference in Phoenix, Arizona.
The S&P U.S. Commercial Paper Index is a broad based index designed to serve the investment community’s need for a benchmark representing the U.S. commercial paper market. The Index, part of Standard & Poor’s family of fixed income indices, is the first of its type to be offered by a major index provider.
The S&P U.S. Commercial Paper Index consists of commercial paper with one-to-three month maturities issued by corporate issuers, both financial and non-financial. Asset-backed commercial paper issues are excluded. Issuers included in the index must have a commercial paper program of at least $2 billion.
It is a great honor to be recognized by the IBA and IMN for our ground-breaking approach to measuring the performance of the U.S. commercial paper market,” says Alex Matturri, executive managing director, Standard & Poor’s Index Services. “The S&P U.S. Commercial Paper Index is another example of Standard & Poor’s successfully extending its reach beyond traditional equity indices and into other areas of the capital markets.”
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