Commission Implementing Regulation (EU) No 945/2014
of 4 September 2014
laying down implementing technical standards with regard to relevant appropriately diversified indices according to Regulation (EU) No 575/2013 of the European Parliament and of the Council
(Text with EEA relevance)

THE EUROPEAN COMMISSION,
Regulation: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pts. 1, 3; S.I. 2023/779, reg. 2(d)
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 and in particular the third subparagraph of Article 344(1) thereof,
OJ L 176, 27.6.2013, p. 1.
Whereas:
(1) Pursuant to Article 344(4) of Regulation (EU) No 575/2013, the specific risk of a stock-index future which would be treated as an individual equity in accordance with that Article can be ignored where the relevant stock-index is exchange traded and represents a relevant appropriately diversified index.
(2) Where an exchange traded stock-index future is appropriately diversified, it can be assumed that such stock-index represents no specific risk. This is considered to be the case where the index contains at least 20 equities, no single entity contained within them represents more than 25 % of the total index and 10 % of the largest equities (rounding up the number of equities to the superior natural number) represent less than 60 % of the total index. In addition, the index must encompass equities from at least a national market, and they must comprise equities from at least four industries amongst oil and gas, basic materials, industrials, consumer goods, health care, consumer services, telecommunications, utilities, financials and technology.
(3) Given that Article 344(4) of Regulation (EU) No 575/2013 refers to ‘relevant’ eligible indices, only those stock indices which are relevant for financial institutions in the Union have been assessed against the criteria for identifying eligible stock indices.
(4) This Regulation is based on the draft implementing technical standards submitted by the European Banking Authority to the Commission.
(5) The European Banking Authority has conducted open public consultations on the draft implementing technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council,
OJ L 331, 15.12.2010, p. 12.
HAS ADOPTED THIS REGULATION:

Article 1 Stock indices for the purposes of Article 344 of Regulation (EU) No 575/2013
The list of stock indices, for which the treatments set out in the second sentence of Article 344(4) of Regulation (EU) No 575/2013 is available, are provided in the Annex.

Article 2 Entry into Force
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.

ANNEX Stock indices meeting the requirements of Article 344 of Regulation (EU) No 575/2013
Index	Country\Area
1. STOXX Asia/Pacific 600	Asia/Pacific
2. ASX100	Australia
3. ASX200	Australia
4. S&P All Ords	Australia
5. ATX	Austria
6. ATX Prime	Austria
7. BEL20	Belgium
8. SaoPaulo – Bovespa	Brazil
9. TSX60	Canada
10. CETOP20 Index	Central Europe
11. CSI 100 Index	China
12. CSI 300 Index	China
13. FTSE China A50 Index	China
14. Hang Seng Mainland 100 China	China
15. PX Global Prague	Czech Republic
16. OMX Copenhagen 20 CAP	Denmark
17. OMX Copenhagen 25	Denmark
18. OMX Copenhagen Benchmark	Denmark
19. FTSE RAFI Developed 1000	Developed Markets
20. CECE Composite Index EUR	Eastern Europe
21. FTSE RAFI Emerging Markets	Emerging Markets
22. MSCI Emerging Markets 50	Emerging Markets
23. Bloomberg European 500	Europe
24. DJ Euro STOXX 50	Europe
25. FTSE Euro 100	Europe
26. FTSE Eurofirst 100	Europe
27. FTSE Eurofirst 300	Europe
28. FTSE Eurofirst 80	Europe
29. FTSE EuroMid	Europe
30. FTSE Eurotop 100	Europe
31. MSCI Euro	Europe
32. MSCI Europe	Europe
33. MSCI Pan-Euro	Europe
34. NTX New Europe Blue Chip	Europe
35. S&P Euro	Europe
36. S&P Europe 350	Europe
37. STOXX All Europe 100	Europe
38. STOXX All Europe 800	Europe
39. STOXX Europe 50	Europe
40. STOXX Europe 600	Europe
41. STOXX Europe 600 Equal Weight	Europe
42. STOXX Europe Enlarged TMI	Europe
43. STOXX Europe Lrg 200	Europe
44. STOXX Europe Mid 200	Europe
45. STOXX Europe Small 200	Europe
46. STOXX Select Dividend 30	Europe
47. OMXH25	Finland
48. CAC40	France
49. SBF 120	France
50. DAX	Germany
51. HDAX	Germany
52. MDAX	Germany
53. SDAX	Germany
54. FTSE RAFI All World	Global
55. MSCI World Index	Global
56. Athens General	Greece
57. FT ASE Large Cap	Greece
58. Hang Seng	Hong Kong
59. Hang Seng China Enterprises	Hong Kong
60. NIFTY 50	India
61. ISEQ 20	Ireland
62. FTSE MIB	Italy
63. Nikkei225	Japan
64. Nikkei300	Japan
65. TOPIX 400	Japan
66. TOPIX Core 30	Japan
67. S&P Latin America 40	Latin America
68. FTSE Bursa Malaysia KLCI	Malaysia
69. FTSE Bursa Malaysia Top100	Malaysia
70. MSE Share Index	Malta
71. INMEX Index	Mexico
72. IPC Index	Mexico
73. AMX	Netherlands
74. AEX	Netherlands
75. NZSE50	New Zealand
76. OBX	Norway
77. OBXP	Norway
78. mWIG40	Poland
79. WIG20	Poland
80. MOEX	Russia
81. MSCI Russia Index	Russia
82. MSCI Singapore Free Index	Singapore
83. Straits Times Index	Singapore
84. FTSE JSE Top 40	South Africa
85. IBEX35	Spain
86. OMX Stockholm 30	Sweden
87. SMI	Switzerland
88. SMI MID	Switzerland
89. FTSE NASDAQ Dubai 20	UAE
90. FTSE 100	UK
91. FTSE AIM 100	UK
92. FTSE AIM UK 50	UK
93. FTSE Fledgling	UK
94. FTSE mid-250	UK
95. FTSE Small Cap	UK
96. Dow Jones Ind. Av.	USA
97. NASDAQ 100	USA
98. S&P 500	USA
Substituted by Commission Implementing Regulation (EU) 2020/125 of 29 January 2020 amending Implementing Regulation (EU) No 945/2014 laying down implementing technical standards with regard to relevant appropriately diversified indices in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance).

The “appropriate regulator” has power to make such provision as they consider appropriate by means of an instrument in writing to prevent, remedy or mitigate any failure of the provisions of this Regulation to operate effectively or any other deficiency arising from the withdrawal of the United Kingdom from the EU, see The Financial Regulators' Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 2, 3, Sch. Pt. 4 (with saving on IP completion day by S.I. 2019/680, regs. 1(2), 11; 2020 c. 1, Sch. 5 para. 1(1))