Mark Makepeace, FTSE Russell
London Stock Exchange Group has reached an agreement with Citigroup to acquire The Yield Book and Citi Fixed Income Indices, a fixed income analytics platform and index business comprising a family of fixed income indices (including the WGBI) for a total cash consideration of $685 million (£535 million). Subject to regulatory clearance and other customary closing conditions, the transaction is anticipated to close in the second half of 2017.
The acquisition will help LSEG to enhance the data and analytics capabilities of its Information Services division and its franchise bringing an increase in benchmark AUM to around $15 trillion, enhanced analytics capabilities and a broader multi-asset customer servicing capability.
The Acquisition enables FTSE Russell to offer a comprehensive fixed income index family, broad and deep fixed income analytics to customers and a recognised global brand for both equity and fixed income in North America, Asia and Europe. The Yield Book also helps to strengthen LSEG's presence in the United States, as well as ISD's global distribution capabilities and also provides connectivity with the asset owner community in North America and Asia.
Mark Makepeace, Group Director of Information Services and CEO of FTSE Russell said: "The acquisition of The Yield Book and Citi Fixed Income Indices supports the continued strong growth and development of London Stock Exchange Group's Information Services division. The acquisition represents a significant step for FTSE Russell to acquire a world-class fixed income analytics and index business, enhancing our ability to provide customers with broader multi-asset capabilities and a deeper data and analytics offering."