FTSE, TMX Ally for Bond Index Biz
UK-based index provider FTSE and Canadian exchange operator TMX Group are setting up a joint index venture, dubbed FTSE TMX Debt Capital Markets, which will combine PC-Bond -- the fixed income index business of TMX's Datalinx information services division -- with FTSE's existing fixed income index business to offer fixed income indexes as well as analytical products and services.
Officials say the venture enables FTSE -- which plans to open an office in Toronto -- to increase its North American presence, while supporting TMX's global expansion. FTSE will have a 75 percent majority stake in the venture, while TMX will hold a 25 percent stake. The deal is expected to close in the second quarter of 2013.
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