Euronext: acquires Global Rate Set Systems

(CercleFinance.com) - On Friday morning, Euronext announced that it had signed an agreement to acquire 75% of the capital of Global Rate Set Systems (GRSS), one of the leading providers of services to benchmark index administrators.


Based in New Zealand, GRSS provides essential services for administrators producing three of Europe's main benchmark interest rates, namely EURIBOR, STIBOR (Sweden) and NIBOR (Norway).

This acquisition diversifies and strengthens Euronext's index franchise, positioning the pan-European exchange group as a leading player in the calculation and administration of Interbank Offered Rate (IBOR) indices.

The transaction will be financed entirely from existing cash and will have no impact on Euronext's deleveraging trajectory. Completion is scheduled for Q2 2024, subject to customary regulatory approvals.


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