LSEG snaps up XTF in latest data acquisition

Exchange group that acquired Russell Investments finishes the year buying a US ETF data business.

London Stock Exchange Group (LSEG) has made a further push to expand its data arm, acquiring US exchange-traded fund (ETF) specialist XTF.

The group’s information services division has recently been agressively expanding, with the acquisition of Russell Investments earlier this year, combining to create FTSERussell.

XTF was founded in 2008 and provides historical databases of ETF information across the US, Cannada and Japan. Its data includes fund objectives, holdings, underlying and peer group analysis.

LSEG said ETFs have been one of the fastest growing product classes for both retail and institutional investors, which has in turn seen increased demand for analytical tools to support the investment process.

Mark Makepeace, group director of information services and CEO of FTSE Russell, said: The acquisition of XTF adds a further element to LSEG’s leading offering in the ETF space. The rapid rise of the global ETF market is prompting demand from institutional and retail investors and their intermediaries for access to high quality global analytic tools and XTF offers a complementary product suite to sit alongside the Group’s global benchmarks and ETF listing venues.”