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- FTSE Russell has acquired a combined c. 27% in minority shareholdings from TMX Group Limited and MTS S.p.A
- Acquisition will further strengthen FTSE Russell’s global fixed income capabilities, complementing recent acquisition of The Yield Book
- Demonstrates FTSE Russell’s commitment to local Canadian market
- Allows FTSE Russell to benefit from key industry trends, including strong growth in multi-asset solutions and passive investment strategies
- FTSE Russell is a leading index provider globally with c.$15 trillion of assets benchmarked to its indexes
FTSE Russell, the global index, data and analytics provider, today announces that it has completed the purchase from TMX Group Limited (“TMX”) and MTS S.p.A (“MTS”) of their respective minority shareholdings in FTSE TMX Global Debt Capital Markets Limited (“FTSE TMX”). The minority shareholdings amount to an aggregate c.27% stake in the joint venture, which was originally established between FTSE and TMX in 2013. As a result, FTSE Russell will assume 100% ownership of FTSE TMX. The acquisition of the minority interests has been made through FTSE International Limited, a wholly owned subsidiary of London Stock Exchange Group. The terms of the transaction have not been disclosed.
The acquisition will support the growth of FTSE Russell’s core index and analytics offering, complementing the acquisition last year of The Yield Book and Citi Fixed Income Indexes and of the data provider, Mergent Inc. It will also enable FTSE Russell to further develop its Canadian fixed income index capabilities through continued investment in enhanced local market products, such as the Universe Bond Index family, and increased operational efficiencies via a global, streamlined product offering for analytics.
FTSE Russell is the most diverse of the leading global index providers, in product terms, and operates a number of equity and fixed income indexes. In fixed income, these cover government, agency, corporate, securitised, emerging markets and high yield debt securities in all major global markets including the widely followed World Government Bond Index (WGBI). Approximately $3 trillion of assets are currently benchmarked to FTSE Russell’s fixed income indexes. FTSE Russell is also well positioned to benefit from the strong underlying market trends including the growing demand for multi-asset solutions across a broader range of investment vehicles.
Mark Makepeace, CEO of FTSE Russell:
“We continue to see demand from clients, including global institutional asset owners, for multi-asset solutions in the index and analytics space. FTSE Russell is the most diversified of the global benchmark providers and is well positioned to benefit from these key industry trends delivering a broad offering of equity and fixed income benchmarks, data and analytics.”
