Bloomberg will rename the group of UBS indexes the ‘Bloomberg AusBond Indexes’ and will independently price them using its evaluated pricing.
The indexes will be calculated and published by Bloomberg daily and will continue to be distributed on multiple platforms.
The ‘Bloomberg AusBond Indexes’ include more than 500 bonds, which are used as benchmarks for a majority of fixed income assets in Australia.
Bloomberg Indexes head Srikant Dash said the acquisition will bring “true independence to an index family used extensively by institutional investors and asset managers”.
“We are committed to a seamless transition in Australia and will continue to leverage Bloomberg’s heritage in bond markets to bring independence and transparency to fixed income benchmarks globally,” said Mr Dash.
UBS Australia head of foreign exchange, rates and credit Duncan Haig said the acquisition will enable UBS to concentrate on its Australian fixed income business.
“Bloomberg offers the fixed income community global expertise and independence of calculation and pricing, alongside a range of other services,” he said.
