HSBC Bank plc (‘HSBC’), a wholly-owned subsidiary of HSBC Holdings plc, has entered into an agreement to dispose of its market indices and data cleansing provider, Quantitative Techniques (‘QT’), to Euromoney Trading Limited (‘the Transaction’). The gross assets being disposed of were recorded at zero in HSBC’s accounts as at 31 December 2012.
Under the terms of the Transaction, HSBC has committed to retain the services of QT for a period of three years from the completion date.
The Transaction is expected to complete by the end of 2013.
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HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,600 offices in 81 countries and territories in Europe, the Asia-Pacific region, North and Latin America, and the Middle East and North Africa. With assets of US$2,693bn at 31 December 2012, the HSBC Group is one of the world’s largest banking and financial services organisations.
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