Euronext to acquire majority stake in benchmark services provider GRSS

Euronext announced the acquisition of 75% of the share capital of Global Rate Set Systems (GRSS), a provider of services to benchmark administrators. This acquisition is expected to strengthen the Euronext index franchise by adding capabilities in contributed data indices and data. GRSS provides a complete solution for developing, operating, and monetizing benchmarks, indices, and other forms of regulated or unregulated market data.

Founded in 2009 and headquartered in New Zealand, GRSS is a mission-critical service provider to the benchmark administrators that produce three of Europe’s critical interest rate benchmarks: EURIBOR (global, the world’s largest benchmark), STIBOR (Sweden) and NIBOR (Norway). GRSS also owns and operates two regulated benchmark administrators that produce CIBOR (Denmark) and PRIBOR (Czech Republic), and a benchmark administrator that produces the TAB, TADO and ICP indices (Chile).

Stéphane Boujnah, chief executive officer and chair of the Managing Board of Euronext, said in a statement: “The acquisition of Global Rate Set Systems is a new milestone in broadening the Euronext data and indices offering. Euronext is today one of the leading providers of flagship equity indices, such as the CAC 40, AEX and OBX. This transaction allows us to further expand Euronext’s offering to interest rate benchmark indices and contributed data indices.

“GRSS has a strong track record of continued revenue growth and high-quality service. We are glad to welcome to Euronext the existing GRSS management team, who will contribute to taking GRSS to the next step and further globally expand Euronext’s index capabilities.”

Craig McIvor, co-founder and CEO of GRSS, said in a statement: “The acquisition by Euronext of a majority stake in GRSS underlines the high quality of its services towards customers…Euronext already has a leading position in the equity indices space, which GRSS will complement by contributing GRSS’ expertise in interest rate benchmarks and contributed data indices.”


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