TMX Group completes RAFI Indices acquisition

TMX Group has completed the acquisition of RAFI Indices from Research Affiliates Global Holdings, the company confirmed in a statement. The transaction was first announced in June 2026 and has now closed.

The deal transfers RAFI Indices’ intellectual property, index methodologies and licensing relationships to TMX Group. RAFI offers more than 90 indices that apply academic research on fundamental drivers of market returns to create investable benchmarks used by investors worldwide.

RAFI Indices was founded by Research Affiliates to publish and license index products based on its academic work. The firm’s indices are used for benchmarking, strategy design and product construction by asset managers and ETF issuers.

TMX VettaFi, a TMX Group subsidiary focused on index development and distribution, will add RAFI’s suite to its product set. TMX Group said the acquisition expands the equity index coverage available through TMX VettaFi across regions and investment approaches.

TMX Group operates exchanges, clearing and related market services and has been expanding its index and data business through product development and acquisitions. Research Affiliates continues to operate as a global index provider and investment adviser, and the transaction transfers RAFI Indices’ commercial index business to TMX Group.