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IPE special report May 2018

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Russell/Mellon CAPS to provide index data

EUROPE – Russell/Mellon CAPS will now provide index data services to asset manager across Europe with the acquisition of FT Interactive Data’s index distribution operation.

Financial terms of the transaction were not disclosed. Russell/Mellon CAPS has been looking at offering index data to its clients for some time – the intention was to develop its own capabilities.

The opportunity arose, however, to acquire FT Interactive’s Edinburgh-based index distribution operation, which meant that the service could be offered sooner.

Says Russell/Mellon CAPS chief executive Mick Brant: “This move 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.”

The index-data distribution product will be offered on its own, or as part of an integrated product alongside investment analysis tools and services.

Brant says that the range of indices available will be extended.

The acquired operation currently includes data collection, reconciliation, formatting and distribution of third-party benchmark information, and serves 27 asset managers in the UK. Russell/Mellon CAPS says it will market the service to all its clients across Europe. It will also be available globally through parent company, Russell/Mellon Analytical Services.

Some staff will be transferred to CAPS, though numbers have not yet been decided.

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