| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| G1 Scope, precedence and principles · 5 fields | |||
| Policy purpose | Correct errors in index determination and calculation so each index continues to reflect the intended economic reality after correction. | This policy outlines the process to be applied where errors in the Index determination and calculation processes occur. The aim of this process is to ensure that each respective Index continues to reflect the economic realityOpen p.3 ↗ |
The policy defines the process for errors in index determination and calculation and aims to ensure that each index continues to reflect the economic reality it is intended to measure after correction. |
| Covered indices | BMR Administered Indices, Indices provided by Solactive in accordance with the IOSCO Principles, and in principle other Indices offered by Solactive that are not BMR-administered or IOSCO-provided. | This policy applies globally to BMR Administered Indices or Indices provided by Solactive in accordance with the IOSCO Principles. The rules contained in this policy apply in principle also to Indices offered by SolactiveOpen p.3 ↗ |
The correction policy applies globally to BMR-administered indices and indices provided under the IOSCO Principles, and in principle also to other indices offered by Solactive. |
| Administrator | Solactive AG | Solactive AG German Index Engineering Platz der Einheit 1 60327 Frankfurt am Main GermanyOpen p.12 ↗ |
The administrator issuing the policy is Solactive AG, German Index Engineering. |
| Rulebook version | 1.5 | 16 February 2026Open p.1 ↗ |
The document version is 1.5. |
| Effective date | 2026-02-16 | 16 February 2026Open p.1 ↗ |
Version 1.5 is dated 16 February 2026. |
| G6 Disruption, emergencies and corrections · 9 fields | |||
| Error categories | Data Errors, Application Errors, Rebalance Errors, Implementation Errors | Errors that may occur in connection with the determination of the Index level can be divided into Data Errors and Application Errors.Open p.4 ↗ |
The policy categorizes errors as Data Errors, Application Errors, Rebalance Errors, and Implementation Errors. |
| Error investigation process | Investigate suspected errors, determine effects on index level or composition and weighting, identify corrective measures, cross-check corporate actions or component values with another data provider and, if needed, original sources; uncovered cases are escalated to the Index Committee. | If a (potential) error has been identified or has been brought to Solactive’s attention, an investigation process will be initiated.Open p.4 ↗ |
When a potential error is identified, Solactive investigates the suspicion, assesses effects and corrective measures, cross-checks relevant information with alternative and original data sources where necessary, and escalates uncovered cases to the Index Committee. |
| Discretionary deviation standard | Solactive may deviate from general time-limit rules if a restatement or correction is possible and would not cause disproportionate effort or cost; the Index Committee considers significance, market impact or disruption, age, and scale of the error. | Solactive may, at its own discretion, deviate from this general rule, provided that a Restatement or Correction is generally possible and would not lead to a disproportionate effort and costs.Open p.6 ↗ |
The Index Committee may depart from the general restatement or correction limits when feasible and not disproportionately costly or burdensome, taking account of significance, market impact or disruption, age, and scale. |
| Review process | A second Index Management Team member reviews correction measures and documentation, and Compliance reviews restatements or corrections by random sampling. | another team member of the respective Index Management Team reviews the applied measures as well as their required documentation.Open p.7 ↗ |
Each error correction is reviewed by another member of the relevant Index Management Team, with Compliance conducting random-sample reviews of remedial actions and documentation. |
| Audit trail | Error types, involved employees, corrective measures, and any Index Committee decisions are documented in Solactive's auditing framework and Record Keeping Policy. | Every error type as well as the involved employees of the respective Index Management TeamOpen p.7 ↗ |
Every error, involved employees, corrective measures, and any Index Committee decision must be documented in Solactive's auditing framework under its Record Keeping Policy. |
| Client announcement | Restatements or corrections are communicated to clients by email with an explanation of the error, rectification, and effective date; a detailed incident report may be provided on request. | Any Restatement and/or Correction made to an Index will be communicated to clients via email.Open p.7 ↗ |
Solactive emails clients about restatements or corrections, explaining the error, rectification, and effective date, and may provide a detailed incident report upon request. |
| Emergency procedure | Unforeseeable error types are assessed individually; the Index Management Team or Index Structuring Team notifies the Index Committee without undue delay, and the Index Committee decides whether and how the error should be rectified. | As no pre-defined treatment is applicable for such errors, these cases have to be assessed individually.Open p.6 ↗ |
For unforeseeable errors without a predefined treatment, the responsible team notifies the Index Committee without undue delay, and the Index Committee independently evaluates and decides on rectification. |
| Error correction policy | General timing: Solactive endeavors to correct all identified index-level or composition errors within a reasonable period; Data, Application, and Implementation Errors are corrected as quickly as possible, normally within two Index Calculation Days after discovery; Data application errors: Correct data, other index parameters, and/or calculation logic from the correction implementation date; published index levels in the affected period are restated subject to time limits; Rebalance errors within time limit: Repeat the rebalance or re-weighting using data from the actual selection date, calculate subsequent levels using corrected composition or weights, and restate levels from the Rebalance Day to discovery; Rebalance errors outside time limit: Correct through an extraordinary rebalance or by implementing the correct historical weights, generally without restating historical levels; certain customized-index sustainability or thematic errors may allow immediate removal and pro-rata redistribution; Implementation errors: Correct the erroneous implementation of published selection results and restate affected published index levels subject to time limits; Ordinary rebalance deferral limit: 15; Ordinary rebalance deferral unit: Index Calculation Days | Data Errors, Application Errors and Implementation Errors will always be corrected as quickly as possible (i.e. within two Index Calculation Days after their discovery).Open p.4 ↗ |
Errors are corrected by type: data, application, and implementation errors are corrected promptly and restated within the limits, while rebalance errors are repeated if found in time or corrected prospectively if found outside the limits, with deferral to an ordinary rebalance allowed only if it occurs within 15 Index Calculation Days. |
| Recalculation policy | Data application implementation restatement window: 2; Rebalance restatement window: 2; Window unit: Index Calculation Days; Multi day rebalance reference: The last day of the rebalance period is deemed the Rebalance Day; Late rebalance error restatement: No; Backtest restatement window: 40; Backtest window unit: Index Calculation Days; Intraday values restated: No; Manual fee errors: Erroneous management or transaction fees from incorrect manual input are restated even if discovered after two Index Calculation Days | Restatements and Corrections due to Data Errors, Application Errors and Implementation Errors are generally only made if such errors have been discovered within two Index Calculation DaysOpen p.6 ↗ |
Restatements for data, application, implementation, and rebalance errors generally require discovery or identification within two Index Calculation Days; late rebalance errors are corrected without historical restatement, back tests may be restated within 40 Index Calculation Days after launch, intraday values are not restated, and manual fee errors are excepted from the two-day limit. |
Open points · 10Model-written, for reference
- 1No explicit precedence rule stating whether this correction policy or an individual index methodology prevails was found.
- 2No separate list of overarching index design principles such as representativeness, investability, or transparency was found; the supplied general-principles section contains only a heading.
- 3No rule specifically addressing market closure, exchange disruption, market disruption, or calculation failure due to a market disruption was found.
- 4The document gives version 1.5 and the date 16 February 2026, but the supplied version section does not expressly label that date as an effective date.
- 5Not coveredG2 Calculation and publication: not covered by this edition
- 6Not coveredG3 Prices and market data: not covered by this edition
- 7Not coveredG4 Corporate events: not covered by this edition
- 8Not coveredG5 Shares, free float and weight factors: not covered by this edition
- 9Not coveredG7 Review and constituent changes: not covered by this edition
- 10Not coveredG8 Governance, changes and termination: not covered by this edition
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