Barclays has bought the US stock index after announcing the purchase of NYSE Euronext, according to a report by The Wall Street Journal.
The bank announced the deal at its quarterly earnings conference.
It follows a buyback last year that led to an 18% rise in the value of Barclays shares after the company raised $3bn in a new financing round.
A senior executive told the WSJ the move to buy the NYSE would allow Barclays to better hedge against the market’s volatility.
“As a global financial services leader, we believe we are able to serve our customers better with more visibility and greater liquidity in the market,” said Brian Shuman, Barclays’ chief financial officer.
The NYSE was trading at $27.60 a share in October 2016.
Barclays was buying about $18bn worth of stock at the time.
Barclays said the buyback was a result of a stronger US dollar and lower interest rates that contributed to the price hike.
Barclays said it expects the new investment to help it raise about $20bn in the next year, with the new funds earmarked for its US financial services business.
It said the new capital would be invested in capital equipment, facilities and other business activities.
The bank said it will use the new cash to expand its US operations.
The deal also comes amid growing concerns about the global financial system, with analysts predicting the market is expected to continue to decline this year.
The WSJ said Barclays was also buying a smaller portion of the S&P 500 index this year, in what could be a sign of the bank’s intent to focus more on its UK business.
Barcelona is expected be able to further reduce its exposure to the US market after it cut its dividend from 7.5p a share to 5.5pc this year and boosted its capital from $1.9bn to $2.4bn, as it ramps up its UK expansion.
Barackson is expected in a second earnings call this week to announce further progress in its investment plan.
The Barclays buyback follows a $10bn share buyback earlier this year by the bank, in addition to the $10.5bn it made in a bond issue.