British banking giant Barclays is reportedly planning to sell its Index, Portfolio and Risk Solutions or IPRS unit that could fetch US$400 million.
The company plans to seek buyers for IPRS in April, Bloomberg reported, citing people with knowledge of the matter.
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CME Group, which had approached Barclays about buying IPRS in 2013, is expected to participate in the purchase offer.
Barclays will also reduce workforce and divest some unprofitable businesses.
IPRS manages benchmarks including the US Aggregate Bond Index, as well as markets portfolio management software to investors and has over 200 clients including asset or money managers, pension funds, sovereign funds, insurance companies and hedge funds across the world.
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