Investing.com - Financial Markets Worldwide
💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

UPDATE 1-Barclays sells benchmark indices unit to Bloomberg

Published 2015-12-16, 08:01 a/m
© Reuters. UPDATE 1-Barclays sells benchmark indices unit to Bloomberg
BARC
-

(Adds comments from Bloomberg, details)
LONDON, Dec 16 (Reuters) - Barclays Plc BARC.L has sold
its benchmark indices and risk analytics business, which
includes the widely used Barclays U.S. Aggregate Bond Index, to
financial information provider Bloomberg for about 520 million
pounds ($781 million).
Barclays said on Wednesday the sale of its Risk Analytics
and Index Solutions business will result in a pretax gain of
about 480 million pounds and lift its common equity capital
ratio by about 10 basis points when the deal completes, expected
by mid-2016.
The bank said it was further evidence of its reduction of
activities that it does not consider strategically important.
Barclays and Bloomberg said they would maintain a
co-branding arrangement on the benchmark indices for an initial
term of five years.
"As financial markets continue to evolve, our clients need
and expect the index business to evolve too," said Michael
Bloomberg, the company's founder.
Barclays put its index business up for sale in 2014 after
designating it as 'non-core', but an auction ran into difficulty
after would-be buyers realised some bond pricing data would not
be part of the package, people familiar with the situation told
Reuters last year. That was partly because some of the data were
owned by Bloomberg, the sources said.
Barclays obtained some of its index business as part of its
Lehman Brothers acquisition in 2008.
It includes fixed income, inflation-linked, and swaps
indices, such as its Aggregate, High-Yield, Emerging Markets,
Municipal and Universal Index families.
Thomson Reuters competes with Bloomberg as a financial news
and information provider.
($1 = 0.6657 pounds)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.