Indexing (Benchmarks) industry is observing some rapid changes with ownership of few of the most eminent Index companies changing hands


After Bloomberg Indexes’ acquisition of USB Australia Bond indices this year in April 2014, now its time for Reuters’ to acquire widely used Benchmark- UBS Convertible Indices in July 2014. The UBS Convertible Indices will be re-branded as the Thomson Reuters Convertible Indices.

 

This is very much inline with the news of Global M&A being @ 7 year high with the re-surge in Corporate Deals. Passive products (like Indices) acquisitions is picking-up the trend in investor interest this year rather individual stocks.

Indexing industry is observing some rapid changes with ownership of few of the most eminent Index companies changing hands. Recently The London Stock Exchange Group last week agreed to buy Russell Investments for $2.7 billion in cash from Northwestern Mutual, the US insurer. Barclays PLC is also expected to solicite offers for its index assets worth ~ $400 Mn this year. Nasdaq and S&P Dow Jones Indices are apparently eyeing acquisitions to bolster their index businesses. MSCI & other companies surely wouldn’t want to be the laggards & are expected to explore index acquisitions.

  

UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. Its business strategy is centered on its pre-eminent global wealth management businesses and its leading universal bank in Switzerland. Together with a client-focused Investment Bank and a strong, well-diversified Global Asset Management business, UBS will expand its premier wealth management franchise and drive further growth across the Group.

 

Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. Thomson Reuters is a trusted, global provider of indices and index services, calculating over 10,000 different equity, fixed income and commodity indices. Thomson Reuters provides innovative indices and index-related services to the global financial community to help investors make better decisions.

Bloomberg says: Identity Theft Fraud Falls 34%, Victims Pay More (8-Feb-2011)


Identity theft fraud fell 34 percent last year to $37 billion, the lowest since Javelin Strategy & Research began tracking data in 2003.

About 8.1 million identities were stolen in 2010, the fewest since 2007, according to a Javelin study released today. Out-of-pocket costs to victims rose to $631 in 2010 from $387 in 2009, according to the Pleasanton, California-based market- research firm.

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“There are fewer cases of identity fraud than there were in previous years. The bad news is there’s more consumer cost,” said James Van Dyke, Javelin’s president and founder. “That’s really due to a shift in the types of fraud.”

Debit-card fraud accounted for 36 percent of crimes committed with cards already in circulation in 2010, up from 26 percent in 2009. Debit-card fraud is generally more expensive for consumers than credit card because zero-liability policies, which protect consumers from losses if their cards are stolen, are less common for debit cards, according to the study.

“There’s been a shift from credit to debit in all kinds of transactions, and unfortunately as you have more debit transactions you have more debit fraud,” said Van Dyke.

New-account fraud, in which a criminal opens an account in the individual’s name rather than exploiting an existing account, also contributed to the rise in costs. Out-of-pocket losses for consumers on new-account fraud averaged $1,267 in 2010, up from $787 in 2009.

Consumer Education

Better consumer education and the success of systems that monitor customer accounts for unusual activity have helped to reduce fraud rates and losses, according to Erik Stein, a vice president of Brookfield, Wisconsin-based Fiserv, a financial services technology company and a sponsor of the survey.

High-income households, or ones earning $150,000 or more a year, had the highest fraud rate of 7.3 percent compared with an average of 3.5 percent across all income levels, the study said.

Consumers should regularly check their free credit reports and monitor their bank and credit-card statements for unfamiliar charges, said Linda Sherry, a spokeswoman for Consumer Action.

“I’m always amazed when I hear from people who don’t read their credit-card statement, they just pay the bill,” said Sherry, who is based in Washington. “If they don’t catch something right away it can be an endless torment.”

Opinion Access Corp., a Long Island City, New York, research firm, surveyed 5,004 people by phone between September 2010 and November 2010 on behalf of Javelin.

To contact the reporter on this story: Elizabeth Ody in New York eody@bloomberg.net

To contact the editor responsible for this story: Rick Levinson at rlevinson2@bloomberg.net.

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