Former CEO of S&P Dow Jones Indices Alexander J. Matturri, Jr. Joins SOFR Academy

Rhea-AI Summary

SOFR Academy appoints Alexander J. Matturri, Jr. as Senior Advisor, leveraging his extensive experience in financial services and strategic partnerships. In 2022, Invesco Indexing LLC, partnered with SOFR Academy to launch innovative US-dollar Across-the-Curve Credit Spread Indices and US-dollar Financial Conditions Credit Spread Indices.

Insights

Financial Analyst

The appointment of Alexander J. Matturri, Jr. as Senior Advisor to SOFR Academy is a strategic move that could signal the firm's commitment to expanding its influence and expertise in the financial markets, particularly in the area of financial benchmarks critical post-LIBOR transition. Matturri's extensive experience with S&P Dow Jones Indices positions him as an asset capable of steering SOFR Academy in developing robust and innovative financial indices. His involvement may enhance the credibility and market adoption of SOFR Academy's products, potentially impacting the fixed income market's approach to credit risk management.

Investors and market participants may view this appointment as a positive development, given Matturri's track record in the industry. The collaboration with Invesco Indexing LLC and the launch of USD-AXI and USD-FXI indices are examples of SOFR Academy's proactive approach to addressing market needs. This move could lead to increased investor confidence in the firm and its product offerings, which is particularly relevant as the financial markets continue to adapt to a post-LIBOR environment.

Market Research Analyst

The transition from LIBOR to alternative reference rates has been a significant challenge for the financial industry and SOFR Academy's efforts in creating new indices like USD-AXI and USD-FXI demonstrate an innovative response to this challenge. These indices provide market participants with tools that are not only more robust but also tailored to the new financial landscape. The feasibility studies conducted in various global markets underscore the potential for international adoption, which could have a ripple effect on how credit risk is managed globally.

For stakeholders, the long-term benefits of such products could be substantial, as they offer a more stable and reliable benchmark for financial instruments. However, the success of these indices and their impact on SOFR Academy's business will largely depend on market acceptance and regulatory approval in different jurisdictions. The involvement of a seasoned expert like Matturri could facilitate smoother entry into these markets and possibly lead to partnerships with other financial institutions and asset managers.

Legal Expert

With Matturri's legal background, his appointment as Senior Advisor may also bring a nuanced understanding of the regulatory landscape that governs financial benchmarks. This perspective is crucial as SOFR Academy navigates the complex legalities and compliance issues associated with launching and managing financial indices. His expertise could prove invaluable in mitigating legal risks and ensuring that new products like USD-AXI and USD-FXI adhere to the stringent standards set by financial authorities.

Given the high stakes involved in the transition away from LIBOR, a legal expert's insights into the implications of this shift for SOFR Academy's product offerings and strategic direction are essential. The firm's ability to anticipate and respond to regulatory changes can significantly influence its competitive position and the broader adoption of its indices in the market.

• Matturri brings 35-years of experience building businesses in the financial services industry
• He led the expansion of the S&P Dow Jones Indices brand into new markets via strategic partnerships
• Matturri to advise SOFR Academy on strategy execution

 

NEW YORK--(BUSINESS WIRE)-- Today, SOFR Academy, Inc, an economic education and market information provider, announced the appointment of Alexander J. Matturri, Jr. as Senior Advisor to the firm effective immediately. Mr. Matturri was previously Chief Executive Officer of S&P Dow Jones Indices (“S&P DJI”), a position he held from 2007 until retiring in 2020.

He led the expansion of the S&P DJI’s index business via strategic partnerships with global stock exchanges, relationships with financial institutions and asset managers, and the development of innovative indices and benchmarks that represent a range of sectors, asset classes, strategies and geographies.

Mr. Matturri, a CFA Charterholder, currently serves as a member of the Board of Directors of Cboe Global Markets, Inc. (Cboe: CBOE) and the Advisory Board of The Index Standard. Prior to joining S&P, Mr. Matturri served as Senior Vice President and Director of Global Equity Index Management at Northern Trust Global Investments from 2003 to 2007. From 2000 to 2003 he was Director and Senior Index Investment Strategist at Deutsche Asset Management. Matturri holds a B.S. degree in Finance from Lehigh University and a J.D. degree from Syracuse University.

“I am happy to be able to help SOFR Academy as it helps educate and develop products for the credit markets. As the fixed income markets adapt to the post-LIBOR world, it will be important for market participants to have appropriate tools available to manage credit risk,” said Alex Matturri.

“Under Alex’s leadership, S&P Dow Jones Indices was transformed into one of the world’s most important index providers. He brings deep industry experience successfully developing and managing financial benchmarks that are relied upon every day by market participants globally. As we continue to execute on our strategy, I have no doubt that Alex’s advice and counsel will benefit both our firm and the market participants who use the indices we help to develop,” said Marcus Burnett, Chief Executive Officer of SOFR Academy.

In 2022 Invesco Indexing LLC, an independent index provider owned by global asset manager Invesco Ltd (NYSE: IVZ), partnered with SOFR Academy to launch first-of-their-kind US-dollar Across-the-Curve Credit Spread Indices (“USD-AXI”) and US-dollar Financial Conditions Credit Spread Indices (“USD-FXI”). USD-AXI and USD-FXI do not suffer from the lack of robustness that led to the demise of Libor. These indices work in conjunction with the SOFR and address a concern communicated by a group of American banks. AXI / FXI feasibility studies have been completed for China, Europe and Japan with additional studies in progress for Brazil, India and Mexico.

About SOFR Academy

SOFR Academy is a member of the Asia Pacific Loan Market Association (APLMA), American Economic Association (AEA), the Loan Syndications and Trading Association (LSTA), the International Swaps and Derivatives Association (ISDA), the Bankers Association for Finance and Trade (BAFT) which is a wholly owned subsidiary of the American Bankers Association (ABA), the U.S. Chamber of Commerce (USCC) and Bretton Woods Committee (BWC). For more information, please visit www.SOFR.org.

Important Disclosures

SOFR Academy supports near risk-free rates such as SOFR and €STR. Over time, we also support the introduction of robustly defined across-the-curve credit spread supplements such as AXI and FXI which can be used in conjunction with risk-free rates. SOFR is published by the Federal Reserve Bank of New York (The New York Fed) and is used subject to The New York Fed Terms of Use for Select Rate Data. The New York Fed has no liability for your use of the data. Neither AXI or FXI are associated with, or endorsed or sponsored by, The New York Fed, or the Federal Reserve System.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240122240639/en/

SOFR Academy

press@SOFR.org

Tel: +1 855 236 6106

Source: SOFR Academy, Inc

FAQ

Who is the new Senior Advisor appointed by SOFR Academy?

Alexander J. Matturri, Jr. has been appointed as the new Senior Advisor to SOFR Academy.

What is the ticker symbol for Invesco Ltd?

The ticker symbol for Invesco Ltd is IVZ.

What are the new indices launched by Invesco Indexing LLC in partnership with SOFR Academy?

In 2022, Invesco Indexing LLC partnered with SOFR Academy to launch US-dollar Across-the-Curve Credit Spread Indices and US-dollar Financial Conditions Credit Spread Indices.

What is the significance of the new indices launched by Invesco Indexing LLC and SOFR Academy?

The new indices address the lack of robustness that led to the demise of Libor and work in conjunction with the SOFR, addressing concerns communicated by a group of American banks.