Toronto-based TMX Group Ltd. has sold its minority stake in its fixed-income index business to FTSE International Ltd., which will now assume complete ownership of FTSE TMX Global Debt Capital Markets Ltd., the companies announced on Thursday.
Financial terms of the sale of TMX Group’s 24.2% stake were not disclosed.
FTSE International, a wholly owned subsidiary of the London Stock Exchange Group, also acquired a small stake held by MTS S.p.A to consolidate its ownership of the business.
TMX Group says it sold the business as part of its strategy to focus its resources on growing its core data and analytics businesses.
The joint venture was originally established between FTSE and TMX in 2013.