Vienna Stock Exchange has announced a joint venture with Swiss index provider Limeyard, in a bid to add real time index calculation and data dissemination to Limeyard’s index offering.
As part of the agreement, Vienna Stock Exchange has acquired a minority stake in the group and Limeyard will be providing expertise and research in index operations as well as customer services to the stock exchange. The financial terms of the agreement have not been disclosed.
Patrick Valovic, founder & managing partner of Limeyard comments on the agreement: “While we continue to establish a global range of “plain-vanilla” and innovative index offerings, we are now also able to offer our services in real time to a broader client base, together with the Vienna Stock Exchange. The close relationship between Limeyard and the Vienna Stock Exchange will further enable us to meet our clients’ needs in the best possible way.”
Christoph Boschan, CEO of the Vienna Stock Exchange, adds: “Diversification is key to our strategy in the next few years. We already have a well-established and profitable index business. Partnering with Limeyard represents a fantastic opportunity to grow outside our core markets. We are now embarking on an intensive cooperation and will work hard to grow this new business together.”
Zurich-based boutique Limeyard has been launched in 2016 and offers a combination of white-labelled and own brand indices.
Vienna Stock Exchange exists since the late 18th century and historically had a strong foothold in Central and Eastern Europe. It currently offers 130 tradable indices, covering Central and Eastern Europe as well as Russia to more than 140 financial institutions globally.