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Euromoney Institutional Investor PLC To Acquire HSBC's Quantitative Techniques Operation

Thursday, 4 Apr 2013 02:00am EDT 

Euromoney Institutional Investor PLC announced that it has signed a binding agreement with HSBC to acquire its Quantitative Techniques (QT) operation. QT is the calculation agent business of HSBC Bank plc and creates and maintains more than 100 equity and bond indices for HSBC's Global Markets division as well as over 60 external clients. Completion of the sale will take place after a transition phase, which is expected to take six months. Once the transaction has completed, HSBC has agreed to purchase index calculation services from QT for a minimum period of three years. Financial terms of the transaction were not disclosed.