London Stock Exchange Group (LSEG) has closed the acquisition of Citigroup’s fixed income analytics platform, The Yield Book, and Citi Fixed Income Indices business.
The cash deal, announced in May 2017, is valued at $685m.
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FTSE Russell group director of information services and CEO Mark Makepeace said: “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.”
Citi global head of investor services and DCC Okan Pekin added: “As part of the transaction, Citi will remain a long term partner, collaborating with LSEG on future development and support of certain models. Additionally, Citi will continue to be a significant customer of The Yield Book.”
The Yield Book business of Citi provides analytical insights into fixed income instruments with focus on mortgage, government, corporate and derivative securities, while its Fixed Income Indices are used for the creation of ETFs, structured products and swaps.
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