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<h1>SEBI's 2024 Regulations Clarify Key Terms for Index Management, Including Administration, Benchmarks, and Expert Judgement.</h1> The Securities and Exchange Board of India (Index Providers) Regulations, 2024, defines key terms related to the administration of benchmarks or indices. 'Administration' involves the production and dissemination of indices, including data collection and processing. 'Benchmark' or 'Index' refers to values used in securities, calculated periodically, and serving as references for financial instruments. An 'Index Provider' manages the creation and operation of indices. 'Submitter' provides data for index determination, while 'Expert Judgement' involves discretion in data use. The regulations also define terms like 'Significant Indices,' 'Stakeholder,' and 'Regulated Market,' among others, ensuring clarity in index-related processes.