Euronext has completed the acquisition of 75% of the share capital of Global Rate Set Systems (GRSS), a provider of services to benchmark administrators. The move was announced in April.
GRSS provides a solution for developing, operating and monetising benchmarks, indices and other forms of regulated or unregulated market data. In 2023 (YE March), GRSS generated NZ$14.9 million (€8.6m) in revenue.
A Euronext spokesperson told The DESK the acquisition of GRSS further diversifies and strengthens Euronext’s index franchise, positioning the group as a leading player for calculating and administrating Interbank Offered Rate (IBOR) indices.
GRSS provides services to the benchmark administrators that produce three of Europe’s critical interest rate benchmarks: EURIBOR, STIBOR and NIBOR. GRSS also owns and operates two regulated benchmark administrators that produce CIBOR and PRIBOR, and a benchmark administrator that produces the TAB, TADO and ICP indices in Chile.
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