S&P Dow Jones Indices

S&P Dow Jones Indices, commonly known as S&P DJI, is a global provider of financial-market indices. It produces, maintains, licenses, and markets benchmarks used to represent equity markets, fixed-income markets, commodities, real estate, and other segments of the investment industry. Its best-known benchmarks include the S&P 500, a leading measure of large-capitalization U.S. equities, and the Dow Jones Industrial Average, one of the most recognizable measures of the U.S. stock market. The business combines the index expertise associated with S&P Global and the Dow Jones index franchise. Its portfolio reaches from broad national and regional benchmarks to sector, style, dividend, sustainability, thematic, and strategy indices. The company also maintains long-established Dow Jones averages, including the Dow Jones Transportation Average and the Dow Jones Utility Average. The Dow Jones Transportation Index traces its origins to 1882, making it the oldest continuously used index associated with the business. The Dow Jones Industrial Average was introduced in 1896, while the S&P 500 was created in 1957. S&P DJI serves asset managers, exchanges, financial institutions, corporations, researchers, and other market participants. Indexes are used as performance benchmarks, portfolio-construction tools, reference rates for financial products, and foundations for exchange-traded funds and other index-linked investments. The business licenses index data and intellectual property to product issuers and distributes market information through its commercial platforms and publications. Its major geographic franchises include the United States, Europe, Asia-Pacific, Latin America, Canada, Australia, New Zealand, India, and other international markets. Representative benchmarks include the S&P Global 1200, S&P Europe 350, S&P Asia 50, S&P Latin America 40, S&P/ASX indices, S&P/TOPIX 150, S&P/TSX indices, S&P/NZX 50, and the S&P BSE 500 Shariah Index. In the United States, its equity range includes the S&P 100, S&P 500, S&P MidCap 400, S&P SmallCap 600, and the combined S&P 1500 family. S&P DJI also publishes market commentary, interviews, videos, and press-event content related to index methodology, market trends, and investment themes. Its positioning rests on scale, methodological governance, long operating histories, and the widespread adoption of its benchmarks. The company is majority-owned by S&P Global, while CME Group holds a significant minority interest. It remains an active global index provider rather than a conventional consumer-facing product brand.

S&P Dow Jones Indices was formed from the combination of two established index franchises: the financial-index business associated with Dow Jones & Company and the index business associated with Standard & Poor’s, now part of S&P Global. The resulting organization brought together the Dow Jones family of averages and S&P’s broad range of equity and financial benchmarks under a single index provider. The historical roots of the combined portfolio extend well before the joint venture itself. Charles Dow created the Dow Jones Transportation Average in 1882. The Dow Jones Industrial Average followed in 1896 and became a widely recognized gauge of leading U.S. industrial companies and, later, the broader American equity market. The S&P 500 was introduced in 1957 and developed into a principal benchmark for large-cap U.S. stocks. These legacy benchmarks became central assets of the combined business. In February 2010, CME Group agreed to acquire 90 percent of Dow Jones & Company’s financial-indexes business, including the Dow Jones Industrial Average. CME Group and Dow Jones & Company subsequently contributed the Dow Jones index assets to the formation of S&P Dow Jones Indices. Under the original ownership arrangement, CME Group received a 24.4 percent interest in the joint venture and Dow Jones & Company received 2.6 percent, while S&P Global held the majority position. The ownership structure changed in April 2013, when CME Group purchased Dow Jones & Company’s interest for $80 million. The transaction increased CME Group’s ownership in S&P Dow Jones Indices from 24.4 percent to 27 percent. S&P Global consequently remained the majority owner, with CME Group as a substantial minority owner. Following its formation, S&P DJI developed as a broad index platform rather than a business centered only on the S&P 500 or Dow Jones Industrial Average. Its portfolio includes global and regional equity benchmarks, national market indices, sector and thematic measures, dividend-oriented indexes, fixed-income and commodity benchmarks, and other rules-based strategies. The global and regional range includes the S&P Global 100, S&P Global 1200, S&P Asia 50, S&P Europe 350, S&P Latin America 40, and Dow Jones Global Titans 50. National and regional products include the S&P/ASX series in Australia, S&P/TOPIX 150 in Japan, S&P/TSX benchmarks in Canada, S&P/NZX 50 in New Zealand, and the S&P BSE 500 Shariah Index in India. In the United States, S&P DJI maintains the S&P 1500 family, which combines the large-cap S&P 500, mid-cap S&P MidCap 400, and small-cap S&P SmallCap 600. Related products include the S&P 100 and the S&P 500 Dividend Aristocrats. The Dow Jones family includes the Industrial, Transportation, Utility, and Composite averages. S&P DJI’s commercial role includes index calculation and maintenance, methodology administration, licensing, data distribution, and support for products that track or reference its benchmarks. Its indices are used by asset managers, exchanges, financial institutions, and other market participants for benchmarking and investment-product construction. The company also produces market commentary videos, interviews, and press events, extending its role into financial information and market communication. In December 2020, the organization removed certain Chinese companies from some indices in response to U.S. government investment restrictions. That episode illustrated how index administration can be affected by regulation and geopolitical policy, particularly when benchmarks are used by investment products subject to U.S. legal requirements. S&P DJI continues to operate as an active international index provider under the ownership structure led by S&P Global and including CME Group.

• 2020

  Index removals related to U.S. investment restrictions

  [1]S&P Dow Jones Indicesen.wikipedia.org

  S&P DJI removed certain Chinese companies from some indices after U.S. restrictions targeted investment in companies designated as connected with the Chinese military.

• 2013

  CME Group increases its ownership

  [1]S&P Dow Jones Indicesen.wikipedia.org

  CME Group acquired Dow Jones & Company’s remaining interest for $80 million, raising its stake in S&P Dow Jones Indices to 27 percent.

• 2010

  Formation of S&P Dow Jones Indices

  [1]S&P Dow Jones Indicesen.wikipedia.org

  CME Group and Dow Jones & Company contributed the Dow Jones index business to the formation of S&P Dow Jones Indices, with S&P Global holding the majority interest.

• 1957

  Creation of the S&P 500

  [1]S&P Dow Jones Indicesen.wikipedia.org

  The S&P 500 was created as a broad large-cap U.S. equity benchmark and later became a foundational reference for index investing.

• 1896

  Introduction of the Dow Jones Industrial Average

  [1]S&P Dow Jones Indicesen.wikipedia.org

  The Dow Jones Industrial Average was introduced as a benchmark for prominent U.S. industrial companies and became one of the world's most recognized market averages.

• 1882

  Creation of the Dow Jones Transportation Average

  [1]S&P Dow Jones Indicesen.wikipedia.org

  Charles Dow created the Dow Jones Transportation Average, the oldest index still associated with the S&P DJI portfolio.

A globally scaled, institutionally oriented index provider positioned around authoritative benchmarks, transparent methodologies, long-running market histories, and broad licensing adoption.

• U.S. large-cap equity index · 1957

  S&P 500

  A leading benchmark for large-capitalization U.S. equities. The index is widely used to measure the performance of the U.S. stock market and serves as the reference for numerous index-linked investment products.

• U.S. equity market average · 1896

  Dow Jones Industrial Average

  A long-established Dow Jones average tracking a selected group of prominent U.S. companies. It is one of the most widely recognized indicators of movements in the U.S. equity market.

• Transportation equity index · 1882

  Dow Jones Transportation Average

  A transportation-sector market average created by Charles Dow. Its origins date to 1882, and it remains part of the Dow Jones index family maintained by S&P DJI.

• Global equity index

  S&P Global 1200

  A global equity index family constructed from regional and national components. Its related benchmarks include the S&P Asia 50, S&P Europe 350, S&P Latin America 40, S&P/TOPIX 150, S&P/TSX 60, and S&P 500.

• U.S. composite equity index family

  S&P 1500

  A broad U.S. equity index family combining the large-cap S&P 500, mid-cap S&P MidCap 400, and small-cap S&P SmallCap 600. It is designed to provide coverage across multiple capitalization segments.

• Australian equity indices

  S&P/ASX index family

  A group of Australian market benchmarks including the broad S&P/ASX 300, the S&P/ASX 200, the large-cap S&P/ASX 50, and the S&P/ASX 20.

• Canadian equity indices

  S&P/TSX index family

  A Canadian equity benchmark family that includes the broad S&P/TSX Composite Index and the large-cap S&P/TSX 60.

• Global large-company equity index

  Dow Jones Global Titans 50

  A global equity benchmark focused on internationally prominent companies. It forms part of S&P DJI’s global and regional index offering.

• 2020

  Remove certain Chinese companies from indicesOther

  Background

  A U.S. executive order restricted U.S. investment in securities of companies designated by the Department of Defense as backed by the Chinese military.

  Action taken

  S&P DJI removed some affected Chinese companies from its indices.

  Aftermath

  The action demonstrated the effect of government investment restrictions and geopolitical policy on index composition and administration.

  Source

• 2013

  Purchase Dow Jones & Company’s remaining interestM&A

  Background

  Dow Jones & Company held a minority interest in the S&P Dow Jones Indices joint venture after the 2010 formation.

  Action taken

  CME Group acquired the Dow Jones & Company interest for $80 million.

  Aftermath

  CME Group’s ownership increased from 24.4 percent to 27 percent.

  Purchase price. $80 million (April 2013)

  Source

• 2010

  Create a combined index business with CME Group and Dow JonesM&A

  Background

  CME Group agreed to acquire a controlling interest in Dow Jones & Company’s financial-indexes business, including the Dow Jones Industrial Average.

  Action taken

  CME Group and Dow Jones & Company contributed the Dow Jones index assets to a new S&P Dow Jones Indices joint venture.

  Aftermath

  The arrangement combined the Dow Jones index franchise with S&P’s index platform under a business majority-owned by S&P Global.

  Source

• 2020

  S&P DJI removes certain Chinese companies from affected indices[1]S&P Dow Jones Indicesen.wikipedia.org

  Regulation · Other

  S&P Dow Jones Indices removed certain Chinese companies from some of its indices after a U.S. executive order restricted U.S. investment in securities of companies designated by the U.S. Department of Defense as linked to the Chinese military.

1. 1S&P Dow Jones Indicesen.wikipedia.org
2. 2S&P Dow Jones Indices official websitespglobal.com
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