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How would corrections be processed if an errors occur?


If any data errors or corrections have been identified at any point of the index administration, they must be raised to the Index Committee for the assessment of materiality. Index corrections can be distinguished between calculations errors and invalid data input.

Examples of calculation errors include:

  • Corrections made to index-calculation methodology
  • Erroneous calculation of historical cash flows

Examples of data-input errors include the following:

  • Corrections made to input data and the downstream implications in indices and associated analytics
  • Erroneous classification of financial statements-items
  • Erroneous identification of underlying assets’ financial statements or attributes

Scientific Infra corrects any errors in the underlying data once they have been identified. The impact of these errors are then assessed and validated by the Index Committee. If the restatements are deemed to be material, then they are published on the Scientific Infra website with an explanation of the corrections made and the corresponding impact. The materiality of correction required is subject to the Index Committee’s decision. As a rule of thumb, a correction is deemed material if it will significantly alter the benchmark users’ expectations or decision-making abilities.

Things to consider

The following are not in scope for changes in accordance with this policy:

  • Changes to universe construction
  • Changes in index methodology
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