Custom benchmarks reshape index industry as revenues hit $7.2bn

1st June, 2026

Zak Jakubowski

The rapid growth of customised and self-indexed products is intensifying competition across derivatives markets, raising questions over whether benchmark fragmentation could eventually challenge liquidity concentration in listed futures and options.

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ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
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