Baltic Exchange Information Services Ltd (BEISL) is a wholly owned subsidiary of the Baltic Exchange Ltd (Baltic) and is an authorised benchmark administrator. BEISL undertakes adequate steps to identify, prevent and manage conflicts of interests and to safeguard confidence in the integrity of our benchmark and benchmark related activities. BEISL has established a permanent oversight function that ensures supervision of all aspects of the provision of our benchmarks and oversees the implementation and effectiveness of our governance arrangements.
As market leaders, we provide a comprehensive benchmark administration service to include:
- Collection of input data from our Panellists, a Panellists Code of Conduct which clearly specifies the obligations of our Panellists and promotes responsible corporate behaviour (Sections 6 and 16 of the GMB)
- Robust benchmark determination process to include monitoring checks, controls over the accuracy and validity of input data, and application of our benchmark methodology (Sections 8, and Appendices 1-4 of the GMB)
- Control framework that is proportionate to the provision of benchmarks and nature of the benchmark input data including the management of operational risk, adequate and effective business continuity, and disaster recovery plans (Sections 15, Appendix 6 of the GMB)
- Accountability framework to include adequate record keeping, audits reports ensuring our compliance to our benchmark methodology and the EU BMR, a complaints handling mechanism to receiving, investigating and retaining records concerning complaints (Sections 9 and 11 of the GMB)
- Governance and Oversight framework to manage and challenge all aspects of the administration process, conflicts of interests policy, and whistleblowing policy (Sections 1, 10 and 12 of the GMB)