Russell Indexes and NYSE Euronext form global alliance
Russell Indexes and NYSE Euronext have formed a global alliance which will span three distinct NYSE Euronext business lines and multiple geographies, as well as several facets of Russell’s global index business.
The agreement includes the transition of RussellTick, an index feed for real-time, intra-day values for the Russell family of indexes in the US and globally, to NYSE Technologies’ Global Index Feed (GIF) protocol and global distribution.
Approximately USD3.9trn in assets are currently benchmarked to the Russell Indexes globally. The alliance also includes a commitment to develop additional joint global services and products, such as new index-based options.
The migration of RussellTick to NYSE Technologies’ GIF protocol makes Russell the first major index family distributed through the global Secure Financial Transaction Infrastructure (SFTI) network. The RussellTick calculation engine is now hosted and managed from NYSE Euronext’s US Liquidity Center, home to its US trading, co-location and market data infrastructure. Traders and investors can benefit from the processing power, capacity and active customer community inside the Liquidity Center. Additionally, by accessing NYSE Euronext’s diverse geographical footprint, proprietary SFTI network and liquid customer base, Russell can provide clients anywhere in the world efficient and reliable access to real-time Russell index data.
“Our new alignment with NYSE Euronext will allow the Russell family of global indexes, which currently have more US institutional assets benchmarked to them than all other US equity indexes combined, to expand on our customer offering and extend the products and services we provide to clients globally,” says Ron Bundy (pictured), chief executive of Russell Indexes. “We look forward to building on our relationship together going forward.”
“NYSE Euronext has built a unique portfolio of products and services designed to encourage growth and create opportunity in global markets by empowering our customers to accelerate the evolution of their business models using our world-class technology, global connectivity and multi-asset exchanges,” says Duncan Niederauer, chief executive of NYSE Euronext. “We are very excited to work with Russell Indexes to help advance their dynamic business with our highly complementary services.”
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