TMX Group sells stake in fixed income index business to FTSE

TMX Group has sold its holding in FTSE TMX Global Debt Capital Markets Limited to FTSE International Limited.

TMX Group said in a release Thursday that it completed the sale of its entire 24.2% shareholding. The terms of the agreement were not disclosed.

The decision was based on the company’s “strategy to focus resources on growing core data and analytics businesses,” the release said.

FTSE International is a wholly owned subsidiary of the London Stock Exchange Group. FTSE Group and TMX Group signed the agreement to combine their fixed-income index businesses in February 2013.

Read: FTSE, TMX to launch joint fixed-income index

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