London Stock Exchange Bolsters Fixed-Income Presence with Citi Yield Book, Indices Acquisitions

$685 million deal for analytics platform and indices business first acquisition by LSEG since collapse of Deutsche Börse merger.

LSEG has boosted its presence in the North American and Asian markets through the acquisition following the collapse of its merger with Deutsche Borse.

The acquisition, which is expected to close in the second half of this year, will bolster LSEG’s Information Services division and its FTSE Russell franchise through enhanced analytics capabilities and a broader multi-asset customer service offering, as well as boost LSEG’s presence in the North American fixed-income market.

Yield Book, which was established in 1989 and acquired by Citi in 1998, comprises a suite of bond trading analytics tools and models, with specific focus on mortgage, government, corporate and derivative securities. LSEG and Citi have also agreed a long-term partnership collaborating on future development and support of these models and associated products.

“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,” said Mark Makepeace, group director of information services and CEO of FTSE Russell. “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.” 

LSEG’s acquisition of Yield Book is a continuation of a trend of investment banks offloading fixed-income analytics solutions, following similar deals by StatPro for UBS Delta, and Bloomberg’s acquisition of the Barclays Port platform and BRAIS business. Look for a deep dive into this trend and what it means for the fixed-income community in the June issue of Waters.

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SEC squares off with broker-dealers over data analytics usage

The Gensler administration has ruffled feathers in the broker-dealer community with a new proposal seeking to limit their use of predictive data analytics. But at the heart of this deal is something far more seismic: one of the first attempts by the SEC to regulate AI.

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