UBS agrees multi-year contract for London Stock Exchange Group data
UBS Group AG and London Stock Exchange Group PLC on Tuesday announced a ‘long-term strategic partnership’ for financial market data provision.
The two companies said UBS will ‘adopt LSEG’s full suite of data & analytics solutions across asset classes, business franchises and the trade lifecycle of the bank’.
They called the agreement a ‘multi-year partnership’ but didn’t provide the exact term, nor provide any financial details. The LSEG data products, which came with the exchange operator’s 2021 acquisition of Refinitiv, currently are included in internal data platform UBS Quotes.
Zurich-based UBS said the new agreement with LSEG will help it find cost savings from the integration of cross-town rival Credit Suisse, which UBS acquired for $3.4 billion in 2023.
‘As we continue to execute on our integration strategy, the longstanding trusted partnership with LSEG will be important in unlocking synergies, supporting scalable and long-term revenue growth across the group,’ said UBS Chief Executive Sergio Ermotti.
LSEG shares were down 0.8% to 10,570.00 pence in London on Tuesday morning. UBS shares were up 0.2% to fr.29.22 in Zurich.
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