Bringing Efficiency to Index Licensing Pricing is the Goal of BenchMarket and Bruce Traan

John Lothian

John Lothian

Executive Chairman and CEO

Bruce Traan is a 15+ year veteran of the Cboe who had jumped into the crypto world, but now has created his own firm to bring fairness in pricing to firms needing the licensing services of an index provider. The uneven pricing of the index provider world is what he seeks to solve with his new enterprise, BenchMarket.

Traan saw this problem with his own eyes when he was involved with incubating Cboe Global Indexes, he said.

After leaving Cboe, he joined CoinMetrics as chief index officer. His new firm, BenchMarket, is a peer-to-peer global marketplace for index licensing. 

We asked him about his experience with the crypto space. He said he believes the crypto world still has legs to grow despite the recent issues.

JLN also asked him why he started his own firm. He said it was something he had been thinking about for a long time. There is a need for efficiency and innovation in the licensing business. He is trying to reimagine the market from a one-to-one to a one-to-many and lower the cost.

He is not disrupting the market, but innovating access to it, he said. 

He said that if BenchMarket can get enough ETF and fund administrators to join, then there will be a more economical discussion about licensing. 

The proliferation of passive investments has created a need for benchmarks, which makes the need for more efficiency in licensing that much more important, he said.

There are some licensors who don’t follow IOSCO principles, so BenchMarket can help build trust in the governance as well as lowering costs. 

BenchMarket is looking to launch in the first quarter of 2023, Traan said. So far the company is self-funded, but as it needs to address larger issues, it will look to raise capital, he said. 

ICE to Start Rival Gas Market in London to Sidestep EU Price Cap

ICE to Start Rival Gas Market in London to Sidestep EU Price Cap

First Read Hits & Takes John Lothian & JLN Staff Thank you to all who replied to my request to help one of my Eagle Scouts who was recently laid off on the West Coast and is looking for new opportunities in the climate tech and sustainability space. You are...

We visit more than 100 financial news websites daily (Would YOU do that?)

The Spread

Todays  Options Newsletter

Now Read This

William Knottenbelt – The History of Financial Futures – Part Two

William Knottenbelt – The History of Financial Futures – Part Two

William Knottenbelt was interviewed by John Lothian for The History of Financial Futures video series at the FIA EXPO 2022 as he was preparing to leave the CME Group. He joined the CME Group in 2008 after being approached by then CME Executive Bryan Durkin while Knottenbelt was the head of global futures for the Royal Bank of Scotland, which had been taken over by the U.K. government during the financial crisis that year.

Investment in VettaFi Sets Up TMX to Grow Information Business in Canada and Globally

Investment in VettaFi Sets Up TMX to Grow Information Business in Canada and Globally

TMX Group recently invested in VettaFi, what it described as “a US-based, privately owned data, analytics, indexing, digital distribution, and thought leadership company” and TMX Chief Operating Officer Jay Rajarathinam spoke with JLN about the investment and other happenings going on at the exchange group.

Rajarathinam said TMX was seeking to expand into more information businesses and cited the acquisition of Wall Street Horizon as an example. Wall Street Horizon is a provider of global market-moving action and global corporate event data.

William Knottenbelt – The History of Financial Futures – Part One

William Knottenbelt – The History of Financial Futures – Part One

William Knottenbelt said he likes to call himself a third generation commodity trader. Both his father and grandfather were commodities traders and had their own firms in Indonesia. Despite that background, Knottenbelt said he thought he wanted to be an accountant.

That thought did not last long after he secured a job at a commodity firm and realized he wanted to be on the trading side. Czarnikow offered him a job in London, but Knottenbelt wanted to work in France, so he was sent to its French subsidiary.

Pin It on Pinterest

Share This Story