NEW YORK, Feb. 21, 2007 — Dow Jones Indexes, a leading global index provider, announced modifications to the rules regarding the Oversight Committee for the Dow Jones-AIG Commodity Indexsm (DJ-AIGCIsm) .
According to Dow Jones Indexes, a new two tier structure, consisting of both a “Supervisory Committee,” and an “Advisory Committee,” replaces the previous single Oversight Committee. The purpose of this two tier structure is to expand the breadth of input into the decision-making process, while also providing a mechanism for more rapid reaction in the event of any market disruptions or extraordinary changes in market conditions.
The three members of the DJ-AIGCI Supervisory Committee, appointed by Dow Jones Indexes and AIG Financial Products Corp., are:
The DJ-AIGCI Advisory Committee currently consists of nine leading figures from the financial and academic communities:
According to Dow Jones Indexes, this new structure should further ensure that the DJ-AIGCIsm remains a highly liquid benchmark for commodity investment as markets evolve and change over time. The Supervisory Committee will make all final decisions relating to the DJ-AIGCI, given any advice and recommendations of the Advisory Committee, with the main design principles of the Index continuing to be Economic Significance, Diversification, Continuity, and Liquidity.
The Dow Jones-AIG Commodity Index is composed of 19 futures contracts on physical commodities and was introduced in 1998. The DJ-AIGCI family of indexes includes nine sector sub-indexes, multiple forward month indexes, sub-indexes for each individual commodity in the original DJ-AIGCI, Euro, and Yen-, denominated versions of the Dow Jones-AIG Commodity Index, and the Dow Jones-AIG Commodity Spot Index(sm). Also available are total return versions of each of the excess return indexes and sub-indexes. Currently, there is an estimated $35 billion invested in financial products that track the Dow Jones-AIG Commodity Index on a global basis.
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