While there are obstacles to the exchange of long-term high temporal resolution precipitation data, there have been few barriers to the exchange of so-called ‘indices’ which are derived from daily and sub-daily data and measure aspects of precipitation frequency, duration and intensity that could be used for the study of extremes. This paper outlines the history of the rationale and use of these indices, the types of indices that are frequently used and the advantages and pitfalls in analysing them. Moving forward, satellite precipitation products are now showing the potential to provide global climate indices to supplement existing products using longer-term in situ gauge records but we suggest that to advance this area differences between data products, limitations in satellite-based estimation processes, and inherent challenges of scale need to be better understood.