London Stock Exchange Acquires Citi Fixed-Income Indices

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London Stock Exchange Group PLC said Tuesday it has acquired The Yield Book and Citi Fixed Income Indices from US financial firm Citigroup Inc for USD685.0 million.

The Yield Book is a fixed income analytics platform that focuses on mortgage, government, corporate and derivative securities.

Citi Fixed Income Indices is an index business made up of a family of fixed-income indices, including the World Government Bond Index.

The acquisition will allow London Stock Exchange to strengthen the data and analytics capabilities of its Information Services division, it said. In particular, the assets under management that are benchmarked against the indices of the company's FTSE Russell franchise will rise to USD15.00 trillion.

The acquisition is in line with LSEG's strategy to expand its Information Services division and will strengthen LSEG's position in the US, the company said.

The acquisition will be funded by existing cash resources and credit facilities and is expected to be completed in the second half of 2017.

"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. I very much look forward to working together with the team at Yield Book and Citi Fixed Income Indices as we develop our businesses over the coming months," said FTSE Russell Chief Executive Officer Mark Makepeace.

Shares in the London Stock Exchange opened 0.4% higher at 3,403.00 pence on Tuesday.

By Dayo Laniyan; dayolaniyan@alliancenews.com