Governance & oversight

A benchmark the market can audit.

A reference price is only as good as its governance. northdex is administered to be independent, transparent, and verifiable — designed toward the IOSCO Principles for Financial Benchmarks, so it can carry institutional and, in time, regulated use.

Independence

northdex administers the index as a neutral party. It does not trade the compute it prices, and no contributor or customer can direct the reference in their favour.

Oversight

An oversight function reviews the methodology, material changes, and any conflicts of interest, separate from day-to-day index production. Its remit grows as the index approaches regulated use.

Conflicts of interest

Relationships that could bias the index — commercial, financial, or personal — are identified, recorded, and managed. Data partners receive no ability to see or influence competitors' data.

Contributor conduct

Contributed data must reflect genuine concluded transactions. Contributors warrant accuracy and the right to share; suspected manipulation results in exclusion.

Change control

Methodology changes follow a defined process: proposal, review by the oversight function, public notice, and a logged effective date. Nothing changes silently.

Provenance & audit

Every input to the index is hash-chained and reproducible from the public feed, so the index can be independently verified rather than taken on trust.

Data protection

Only non-personal commercial data is collected, encrypted and hosted in the EU, under GDPR. Contributors can withdraw and have their data deleted at any time.

Building toward IOSCO, from day one.

northdex does not claim to be a regulated benchmark today. It is being built to the standard now — published methodology, an oversight function, conflict management, and a tamper-evident audit trail — so that a regulated European venue can one day settle contracts against it without re-engineering how the index is run.

Oversight enquiries

Questions on methodology, governance, or data protection are welcome from institutions, operators, and regulators alike.

Contact the oversight function