Barclays (LON:BARC) has sold its risk analytics and indices business to Bloomberg for just over £520mln, netting the bank a healthy profit of £480mln.
Barclays Risk Analytics and Index Solution (BRAIS) includes its Aggregate family of indices, while the sale also includes the technology behind the POINT portfolio analytics tool.
The quantitative investment strategy indices remain with Barclays though calculation and maintenance of its strategy indices will be now carried out by Bloomberg.
The pre-tax profit will mean a pro-forma increase of around 10 bps or 0.1% on the bank’s CET1 ratio, one of the bank's key regulatory capital thresholds.
Jes Staley, Barclays’s new chief executive, said the deal was further evidence of the good work it is doing paring down non-core assets.