Thomson Reuters acquires UBS Convertible Indices
01 July 2014 | 2544 views | 0
Source: Thomson Reuters
Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced that it has completed the acquisition of the UBS Convertible Indices - a widely used benchmark in the convertible bond market.
The UBS Convertible Indices will be renamed the Thomson Reuters Convertible Indices and integrated with existing Thomson Reuters products and services for the convertible bond market and its suite of indices. The indices will be operated in the spirit ofthe International Organization of Securities Commissions (IOSCO) principles for financial benchmarks which come into effect in July 2014.
"We remain firmly committed to delivering the same superior level of service that customers have come to expect from UBS and will be working with UBS to ensure a smooth transition. Working within the spirit of the IOSCO principles will bring immediate benefits for the convertible indices," said John Cooley, Global Head of Indices and Reference Rates at Thomson Reuters. "As an independent global information provider, Thomson Reuters is in an excellent position to continue to bring innovation, independence, transparency and cost effective index solutions to convertible bond investors."
The Thomson Reuters Convertible Indices will continue to measure the performance of the convertible bond asset class and will operate under the same core methodology that has led to the widespread acceptance of these Indices as a benchmark.
"We are delighted that Thomson Reuters, as the independent owners of the Indices, can continue to provide the excellent service that UBS and our clients have enjoyed for 15 years," said Martin Haycock, Executive Director, Equities at UBS. "We are proud of the widespread adoption of the Indices within this unique asset class and feel that it is the right time for the Indices to be developed further by a market-leading financial services provider."
The Thomson Reuters Convertible Indices will continue to be made available to asset managers, hedge funds and investment banks through Thomson Reuters Eikon, Elektron and other data feeds