The London Stock Exchange Group (LSEG) said today it has combined its FTSE and Russell indexing business into one unit known as FTSE Russell.
The indexing giant “will now operate as one joint global index business, with a combined sales and product team serving its global customer base,” according to a statement.
LSEG acquired Russell via the $2.7 billion purchase of Russell Investments from Northwestern Mutual Life Insurance in 2014. The combined indexing business provides indexes to hundreds of exchange traded funds, including some of the largest broad market and international ETFs.
Several of the largest international ETFs that trade in the U.S. are benchmarked to FTSE indices including the Vanguard FTSE Emerging Markets ETF (NYSEArca: VWO), the largest emerging markets ETF by assets, and the Vanguard FTSE Europe ETF (NYSEArca: VGK). The iShares China Large-Cap ETF (NYSEArca: FXI), the largest China ETF, also tracks a FTSE index.
Russell is in the index provider for large ETFs such as the $25.1 billion iShares Russell 2000 ETF (NYSEArca: IWM) and the $6 billion iShares Russell Midcap Value ETF (NYSEArca: IWS). [LSE May Only Want Russell’s Index Biz]