Russell Indexes today announced a global alliance with NYSE Euronext to include the transition of RussellTick, an index feed for real-time, intra-day values for the Russell family of indexes to NYSE Technologies’ Global Index Feed protocol.
The RussellTick calculation engine is now hosted and managed from NYSE Euronext’s U.S. Liquidity Center, home to its U.S. trading, co-location and market data infrastructure.
The new venture also includes a commitment from both sides to develop additional joint global services and products, such as new index-based options.
“Our new alignment with NYSE Euronext will allow the Russell family of global indexes, which currently have more U.S. institutional assets benchmarked to them than all other U.S. equity indexes combined, to expand on our customer offering and extend the products and services we provide to clients globally,” stated Ron Bundy, CEO of Russell Indexes.
Ariel Rastatter, Director, Real-Time Data at Russell Investments, told Money Management Executive that: “There were a handful of vendors we were evaluating, including Nasdaq and NYSE Euronext offered the best package. We continue to have a longstanding relationship with Nasdaq and we continue to use them for closing costs and reconstitution at the end of the year, and potentially other projects as they come about.”
He added that current RussellTick clients are also NYSE Global Index Feed clients which made the transition seamless. “What that means is that the transition didn’t require any application development work. It was really a network protocol change,” he said.