Nevertheless, the Index Industry Association, which was formed in March 2012 and is comprised of Barclays, FTSE, MSCI, Nasdaq OMX, Russell and S&P Dow Jones Index, is trying to promote innovation and health competition within the third-party index industry. [More ETF Firms Joining Self-Indexing Trend]
“The thing we all want to keep at the back of our minds is we don’t want anything to happen in the industry that will stop the innovation that has been happening,” Rick Redding, executive director of the IIA and former CME Group executive, said in the article.
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Max Chen contributed to this article.