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Historically, the European ETF market has been split largely between three companies—BGI, Indexchange and Lyxor—with the business divided more or less along geographical lines: generally speaking, BGI has dominated in the U.K., Indexchange in Germany and Lyxor in France. With the merger, BGI will become the undisputed 800-pound gorilla in the business. Bob Diamond, president of Barclays, says: "It is our intention to continue to expand BGI's franchise across Europe and Asia." The deal is expected to close by January, pending regulatory review. |
