 "People exit the Bloomberg building in New York")
US-based Bloomberg on Thursday completed acquisition of Barclays Risk Analytics and Index Solutions Ltd for an undisclosed sum.
The transaction includes the widely-used Barclays fixed income benchmark indices, Barclays Risk Analytics strategy indices, and the intellectual property of the POINT portfolio analytics solution, Bloomberg said in a statement.
The benchmark indices will be co-branded 'Bloomberg Barclays Indices' for an initial period of five years.
Bloomberg will also act as the calculation agent for the Barclays quantitative investment strategy index business and Barclays strategy indices.
The acquisition enables Bloomberg to incorporate sophisticated models and analytics from POINT into Bloomberg PORT and augment these with data, news, alerts, mobile capabilities and Bloomberg's order management solutions to enhance the investment process and facilitate collaboration, the statement said.
Barclays has agreed to continue to operate POINT for 18 months post-completion to help clients' transition, it added.
