Euronext Steps Up Index Business with GRSS Acquisition

Euronext has agreed to acquire 75% of New Zealand-based Global Rate Set Systems, a service provider to benchmark administrators – a deal the exchange says adds to its capabilities in contributed data indices.

GRSS offers a solution for developing, operating, and monetising benchmarks, indices, and other forms of regulated or unregulated market data, and has as its biggest client, Euribor, which Euronext says is the world’s largest benchmark. GRSS also provides services to the adminstrators of the Ibors (interbank offered rates) of Sweden and Norway, and operates its own administrators for benchmarks in Denmark and Czechia.

“The acquisition of Global Rate Set Systems is a new milestone in broadening the Euronext data and indices offering,” claims Stéphane Boujnah, CEI and chairman of the managing board of Euronext. “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,” he continues. “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.”