Index provider FTSE Group is to expand its exchange-traded product (ETP) footprint with the launch of a dedicated service aimed at increasing the number of products it currently provides benchmarks for.
According to the index group, exchange-traded product related assets under management have increased fivefold over the past three years, which has been helped by the addition of 22 products from Vanguard Investments.
The move was estimated to cost rival benchmark index provider MSCI $24m by Moody’s and FTSE’s plans to increase its market share of the global ETP market will increase competition for other providers.
Chief executive Mark Makepeace says: “As one of the world’s largest index providers, we are determined to significantly increase our share of the global ETP benchmark market.
“The creation of FTSE’s new dedicated ETP service ynit is the latest step in a strategy designed to deliver the best possible index and service solutions to our clients globally.”