23 October 2014

Russell Indexes and Nyse Euronext form alliance; sign RussellTick distribution agreement

15 January 2013  |  936 views  |  0 Source: Russell Indexes

Russell Indexes, a leading global index provider and Nyse Euronext, one of the world's premier exchange operators and technology innovators, today announced 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 U.S. and globally, to NYSE Technologies' Global Index Feed (GIF) protocol and extensive global distribution. Approximately $3.9 trillion 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 U.S. Liquidity Center, home to its U.S. 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 U.S. institutional assets benchmarked to them than all other U.S. equity indexes combined, to expand on our customer offering and extend the products and services we provide to clients globally," said Ron Bundy, CEO 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," said Duncan Niederauer, CEO, NYSE Euronext. "We are very excited to work with Russell Indexes to help advance their dynamic business with our highly complementary services."

In addition, Russell Indexes and NYSE Euronext continue to explore other business opportunities in the U.S. and Europe that further utilize NYSE Euronext's unique mix of trading and technology assets alongside Russell's globally recognized index family and client service organization, including index-based options and expanded technology efforts. Through this partnership, Russell Investments and NYSE Euronext will deliver a range of value-added features to global customers trading these new products or subscribing to the RussellTick index data feed. More information will become available in future Russell Indexes/NYSE Euronext announcements. 

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