Russell/Mellon CAPS has announced the acquisition of FT Interactive Data’s Edinburgh-based index distribution operation, which provides index data services to 27 asset managers in the UK. The existing service includes data collection, reconciliation, formatting and distribution of third-party benchmark information.
Commenting on the acquisition Mick Brant, Chief Executive Officer of Russell/Mellon CAPS, said: “We have been planning to offer this service to our clients for some time. Our intention had been to develop our own capability to provide security-level, daily benchmark information, to support our global performance and attribution services. This move now means we are able to do this much sooner than anticipated and will enhance many of our investment analysis services, both in Europe and globally. In addition to offering index data distribution as a stand-alone product, we will be integrating it with our existing investment analysis tools and services. We also intend to expand the range of indices available. This development is great news for us and our clients and we are really looking forward to working with our new colleagues in Edinburgh.”
Russell/Mellon CAPS will continue to run the operation from Edinburgh, and now intends to market this service to all its clients across Europe.