The FTSE Group, part of the London Stock Exchange Group, and the TMX Group Ltd. (TMX:X) completed the integration of their fixed income businesses on Friday, officially creating the FTSE TMX Global Debt Capital Markets.
Originally announced in February, the transaction involved combining TMX Datalinx’s fixed income index business with the FTSE’s internal fixed income index. TMX Datalinx is theTMX Group’s information service division.
The FTSE TMX Global Debt Capital Markets in now the third largest fixed income exchange traded fund index provider in the world. Combined the FTSE and TMX indices are benchmarks for over $1 trillion in fixed income assets.
As part of the deal, TMX Group holds a 25% interest in the venture and received $112.2 million. The business will be jointly headquartered in Toronto and London and employ nine people.