FTSE International Limited has announced a change to its current joint-venture ownership structure, with the London Stock Exchange Group acquiring the 50% stake in FTSE, from Pearson, that the Group does not already own. Following the transaction—which is expected to close in the first quarter of 2012—FTSE will be wholly owned by the London Stock Exchange Group.
FTSE currently calculates and manages more than 200,000 indices worldwide, which are linked to more than $3 trillion in global assets under management. These include the FTSE All-World Index, the FTSE 100 Index and the FTSE MIB Index. FTSE also has partnership indices with several stock exchanges: FTSE/JSE Top 40 Index, FTSE KLCI and the Straits Times Index.
FTSE’s growth plans include expanding in geographies such as the US, where increased usage of its indices amongst asset owners and investment managers accounts for 30% of total index revenues.
There will be no change to FTSE’s internal structure, including its leadership and Mark Makepeace will remain in his role as CEO of FTSE.
“FTSE has built a successful global benchmarking business, amidst an evolving industry where investor appetite for our products is fast growing,” said Makepeace. “The transition announced today will be an important catalyst in FTSE’s global expansion, and the rollout of high quality index solutions to meet demand from global investors, as well as grow FTSE’s business in the ETF and derivatives space.”