S&P buys Goldman's commodity index

Standard & Poor's has acquired the Goldman Sachs Commodity Index (GSCI) as well as two equity indexes. The GSCI is widely considered to be the benchmark for commodity indexes and serves as the underlying for many structured products. It will be renamed the S&P GSCI Commodity Index.

The GSCI was formed in 1991 and has a basket of 24 commodities. Various market estimates say the GSCI has $60 billion of investment tracking the index.

S&P has also acquired the Goldman Sachs Sector Indexes, which are representative indexes for health care, financial institutions, utilities, consumer companies and cyclical industries. And the index provider has also bought the Goldman Sachs Technology Index, a broad composite measure of US-traded technology stocks and six technology sub-indexes.

Financials of the deal were not disclosed.

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