McGraw-Hill, CME Unveil Joint Index Venture

McGraw-Hill Markets is combining its S&P Indices with CME Group’s Dow Jones Indexes subsidiary to create a new joint venture, dubbed S&P/Dow Jones Indices, to speed global expansion of both companies’ indexes.

S&P/Dow Jones Indices will become part of McGraw-Hill Markets—one part of the plan to split up McGraw-Hill into two new companies—with McGraw-Hill owning 73 percent of the venture and CME and Dow Jones owning 24.4 percent and 2.6 percent, respectively.

The deal comes less than two years