Bloomberg L.P. has entered into an agreement to acquire Barclays Risk Analytics and Index Solutions Ltd., a provider of multiple investment utilities across several asset classes, according to a Bloomberg statement.
Barclays Risk Analytics and Index Solutions boasts a versatile suite of services, including benchmark and strategy indices, portfolio analytics, risk and attribution models, and portfolio construction tools. While the solutions span multiple asset classes, it maintains a focus on Aggregate Bond Indices.
The new acquisition will help expand Bloomberg’s comprehensive investments in the index to date, whilst driving additional value to Bloomberg’s clients. Indeed, the indices have already been assimilated into Bloomberg’s analytic dashboards, portfolio analytics, and order management systems.
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Despite the path towards acquiring the solutions provider, Bloomberg will maintain a co-branding arrangement on the benchmark indices for an initial period of five years. However, the transaction is expected to be closed by mid-2016.
According to Michael R. Bloomberg in a recent statement on the acquisition: “As financial markets continue to evolve, our clients need and expect the index business to evolve too. Combining the market-leading Barclays indices and their superb team with our data management, analytics and distribution will provide more independence, liquidity and transparency to the marketplace, improve industry innovation and further meet the diverse needs of our global client base.”
“At a time when market structure change is causing increased demand for innovative solutions in fixed income, the industry and our mutual clients will benefit greatly from the combination of these assets. BRAIS’s talented team will bolster our investments and help us continue to innovate around better creation, sharing, publishing and benchmarking tools, as well as portfolio and risk analytics,” added J.P. Zammitt, Global Head of Financial Products at Bloomberg, in an accompanying statement.