Bloomberg has negotiated a strategic partnership with UBS to allow its index business responsibility for governance, calculation, distribution and licensing of the bank's commodity indexes.
From 1 July, the indexes will be renamed from the Dow Jones-UBS Commodity Index Family to the Bloomberg Commodity Index Family.
"Benchmarks are at the heart of the financial system, and benchmark independence is key to the transparency and efficiency of global financial markets," Bloomberg chief executive and president Dan Doctoroff said.
"By providing true independence to a leading index family used by institutional investors and asset managers around the world, Bloomberg continues to support the needs of our clients and the overall marketplace."
Since launching in 1998, the rebranded Bloomberg Commodity Indexes have emerged as a leading commodity index family. The flagship index offers global, diversified exposure to 22 commodities via the most liquid futures contracts, while a comprehensive set of sub-indexes measure individual commodities and sectors, such as agriculture, energy and metals.
In 2007, Bloomberg and UBS created the UBS Bloomberg Constant Maturity Commodity Index (CMCI), an index family that provides diversified commodity exposure across the full spectrum of the futures curve.
The move also follows Bloomberg Indices' acquisition of a number of well-known Australian bond indices from UBS at the start of April.
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