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Convertible bond asset classes defined

Convertible indices

Screenshot of Thomson Reuters Convertible Indices screen

Our convertible indices are some of the industry’s most widely used and accepted convertible bond benchmarks

The most widely used and accepted benchmarks for measuring the performance of convertible bond investments.

Why choose our convertible bond indices?

Convertible indices offer an independent and transparent definition of the convertible bond asset class over time.

A large number of index combinations are available, such as global and regional coverage; unhedged or hedged currencies; and carve-outs, featuring only “balanced” or investment grade issues. Custom index development and reporting is also possible.

The indices are administered and calculated in the spirit of the International Organization of Securities Commissions principles.

The Thomson Reuters Convertible Indices are administered by Refinitiv Benchmark Services Limited, authorized as a Benchmark Administrator under EU BMR. 

Announcement

Refinitiv is the administrator of numerous indices and benchmarks.

Refinitiv assigned Refinitiv Benchmark Services (UK) Limited (‘RBSL’) to be the regulated administrator of certain benchmarks, such as those used within the EU and thus caught by the EU Benchmark Regulation (EU BMR). RBSL is authorized by the FCA, as listed on the ESMA Register, to administer benchmarks under the EU BMR.

The following benchmarks have been moved to be administered by RBSL since the end of December 2019. The migration has happened therefore it’s okay for users to use them prior to the benchmark statement being published in mid-January 2020. 

  • WM/Reuters Spot, Forward and NDF benchmark rates
  • Thomson Reuters/CoreCommodity CRB® Index
  • Thomson Reuters Convertible Indices

Going forward, we will continue to carry out our commitment to EU BMR.

Note: For those benchmarks administered by a non-EU entity within Refinitiv (i.e. a third country administrator), Refinitiv has until the end of the BMR Extension Transition period (Dec 2021) to migrate those benchmarks into an authorized benchmark administrator (i.e. RBSL).

Those Refinitiv benchmarks that fall under the BMR Extension Transition period and are under consideration for migration before the end of 2021 are:

  • Tokyo Swap Rates (administered by RAPL, Refinitiv Asia Pacific Limited)
  • Thomson Reuters Local Currency Indices
  • Thomson Reuters IX Global ESG Equal Weighted Index
  • Thomson Reuters IX Global ESG High Dividend Low Volatility Equal Weighted Index
  • Thomson Reuters IX Western Europe Small & Mid Cap Index
  • Thomson Reuters GL Large/Mid D&I Ex Controversial Weapons Equal Weight Index
  • Thomson Reuters Global Equal Opportunities Select Index
  • Thomson Reuters Global Resource Protection Select Index
  • Thomson Reuters Europe Equal Opportunities Select Index
  • Thomson Reuters Country, Regional and Sector Indices
  • Thomson Reuters Diversity & Inclusion Index
  • Thomson Reuters Eurozone ESG Select Index

Refinitiv will perform further assessments to the following Refinitiv benchmarks and notify the users in later stage whether Refinitiv will migrate them by Dec 2021:

  • Refinitiv VNIBOR USD Benchmark
  • Refinitiv VNIBOR VND Benchmark
  • Refinitiv VNDFX Spot and Forward Rates
  • Refinitiv VNDFX VND Reference Rate

Features & benefits

Our convertible indices

Comprehensive coverage

Global market coverage, broken down into multiple sub-indices and carve-outs to suit any portfolio or investment mandate.

Expert quality and service

Calculated by specialist convertible indexing and advisory team. Multiple custom index options available.

Independent, regulatory and transparent

Adheres to the European Benchmark Regulation and follows IOSCO principles with rules based methodologies.

Flexible delivery options

Convertible indices are available via Eikon and Datastream or standalone and via FTP, email, or third-party vendors.