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FTSE Russell acquires minority interests to assume 100% ownership of FTSE TMX Global Debt Capital Markets Limited

 

  • 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.”

 

For further information:

Lucie Holloway (Media):
+44 (0)20 7797 1222
newsroom@lseg.com

Tom Woodley (Investor Relations):
+44 (0)20 7797 3322

 

About FTSE Russell:

FTSE Russell is a leading index provider globally creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $15 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com 

Important information:

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond LSEG’s control and all of which are based on its respective directors' current beliefs and expectations about future events. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect LSEG’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to LSEG’s business, results of operations, financial position, liquidity, prospects, growth and strategies. Forward-looking statements speak only as of the date of this announcement and cannot be relied upon as a guide to future performance. LSEG  expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or otherwise, unless required to do so by applicable law or regulation. No statement in this announcement is intended to be a profit forecast and no statement in this announcement should be interpreted to mean that earnings per LSEG ordinary share for the current or future financial years would necessarily match or exceed the historical published earnings per LSEG ordinary share.

© 2018 London Stock Exchange Group plc and its applicable group undertakings (the “LSE Group”). The LSE Group includes (1) FTSE International Limited (“FTSE”), (2) Frank Russell Company (“Russell”), (3) FTSE TMX Global Debt Capital Markets Inc. and FTSE TMX Global Debt Capital Markets Limited (together, “FTSE TMX”), (4) MTSNext Limited (“MTSNext”), (5) Mergent, Inc. (“Mergent”), (6) FTSE Fixed Income LLC (“FTSE FI”) and (7) The Yield Book Inc. (“YB”). All rights reserved.

FTSE Russell® is a trading name of FTSE, Russell, FTSE TMX, MTS Next Limited, Mergent, FTSE FI and YB. “FTSE®”, “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®” , “WorldBIG®”, “USBIG®”, “EuroBIG®”, “AusBIG®”, “The Yield Book®”,  and all other trademarks and service marks used herein (whether registered or unregistered) are trademarks and/or service marks owned or licensed by the applicable member of the LSE Group or their respective licensors and are owned, or used under licence, by FTSE, Russell, MTSNext, FTSE TMX, Mergent,  FTSE FI or YB. “TMX®” is a trademark of TSX Inc.