Parliamentary Search

Written question asked by Bill Wiggin (Conservative) on Monday, 23 July 2018, in the House of Commons. It was due for an answer on Tuesday, 4 September 2018. It was answered by John Glen (Conservative) on Monday, 10 September 2018 on behalf of the Treasury.

FTSE Russell

Question

To ask the Chancellor of the Exchequer, whether he has discussed with the London Stock Exchange the amount of discretion that its subsidiary FTSE-Russell has over decisions on constituents of the FTSE 100; and if he will make a statement.

Answer

Criteria for inclusion within an index are a matter for the benchmark administrator, rather than for the government or regulator. It is therefore FTSE Russell’s decision as a private company and not for HM Treasury to comment on an ongoing decision. FTSE’s methodology is made publicly available at (http://www.ftse.com/products/downloads/FTSE_UK_Index_Series.pdf) and discretion is available within this framework.

Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors, including the London Stock Exchange, as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-giftsand-overseas-travel

Secondary information

Type
Written question
Reference
167172
Session
2017-19
Grouped for answer
Yes
Subjects
Stock market FTSE Russell
Link
View this Written question on www.parliament.uk