S&P Dow Jones Indices

Index-Based Solutions.

As the world’s leading provider of index solutions across geographies and asset classes, we innovate trusted solutions that unleash the potential of capital markets for everyone, everywhere. Our vision is to give every person the power to determine their own financial destiny.

Our Focus Forward

Deepen customer
relationships to extend the core

Innovate in high-growth segments

Deliver operational
excellence

How S&P Dow Jones Indices Generates Revenue

  • Asset-linked fee revenue:
    Licensing fees on assets invested in products linked to S&P Dow Jones Indices
  • Fixed or variable annual and per-issue fees or blanket fees for OTC derivatives and structured products
  • Subscription revenue:
    Customized index solutions and data subscriptions that support index fund management, portfolio analytics, and research
  • Sales usage-based royalties revenue:
    Royalties based on trading volumes of derivatives contracts listed on global exchanges

Revenue by Type

(dollars in millions)

U.S. GAAP Stand-alone (1)
Pro forma (2)
69%
17%
14%
67%
20%
13%
64%
20%
16%
'21
'21
'22
Asset-linked fees
$800
$842
$862
Subscription
$191
$253
$274
Sales usage-based royalties
$158
$158
$219
Total revenue
$1,149
$1,253
$1,355
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Notes:
(1)

2021 results on a stand-alone basis for S&P Global

(2)

2021 and 2022 results on a non-GAAP pro forma adjusted basis as if the merger completed on January 1, 2021

2021 and 2022 non-GAAP pro forma adjusted results reflect the divestiture of a family of leveraged loan indices

Ownership of S&P Dow Jones Indices LLC joint venture (established in June 2012): 73%, S&P Global; 27% CME Group