Bloomberg Indexes, an independent, global index provider, has completed the purchase of UBS’ bond index family in Australia.
Under the deal, Bloomberg will acquire all UBS Australia bond indexes, including the benchmark UBS Composite Bond Index.
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According to Bloomberg, the index family will be renamed as Bloomberg AusBond Indexes and will be independently calculated, maintained and licensed by Bloomberg to support transparency in Australia’s fixed income market.
The Bloomberg AusBond Indexes will include more than 500 bonds and will be used as benchmarks for the majority of fixed income assets in Australia.
Bloomberg said that it will independently price the index family using its evaluated pricing and will calculate and publish the indexes daily.
Srikant Dash, head of Bloomberg Indexes, said: "This acquisition provides true independence to an index family used extensively by institutional investors and asset managers.
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By GlobalData"We are committed to a seamless transition in Australia and will continue to leverage Bloomberg’s heritage in bond markets to bring independence and transparency to fixed income benchmarks, globally."
