Information services giant Bloomberg has acquired UBS's Australia bond index business in a sign banks are looking to move out of the the index and benchmark industry which has been rocked by a series of scandals.

Bloomberg said this morning it had acquired all UBS Australia's bond indexes, including the benchmark UBS Composite Bond Index. Bloomberg will calculate, maintain and license the index family which will be renamed "Bloomberg AusBond Indexes", the company said. The terms of the transaction were not disclosed.