S&P Sells Business To BNY
ORGANIZATION & STRATEGY
Standard & Poor’s is selling its brokerage business Standard & Poor’s Securities Inc. to the Bank of New York’s BNY Brokerage, in order to focus on providing independent research, data and analysis.
The deal follows S&P’s sale of the ComStock real-time data business to Interactive Data Corp. in 2003, which was also an effort to focus on core business (IMD, Jan. 20, 2003).
SPSI provides brokerage services for investment managers who subscribe to S&P’s analytic and research products.
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