The business consists of a pan-European reporting and compliance platform that allows clients to meet regulatory requirements
International financial technology company MarketAxess has agreed to acquire the regulatory reporting business of Deutsche Börse for an undisclosed amount.
Under the terms of the agreement, MarketAxess will buy the Deutsche Börse’s regulatory reporting business ‘Regulatory Reporting Hub, through its Dutch wholly owned subsidiary Trax.
Deutsche Börse is selling the Regulatory Reporting Hub through its subsidiary Regulatory Services.
The Regulatory Reporting Hub is a pan-European reporting and compliance platform designed to help clients meet the regulatory requirements across multiple regulations, including MiFID II and EMIR.
The platform offers services including transaction and trade reporting, execution reporting and SI services, along with APA and ARM services.
The transaction supports MarketAxess in expanding its services across Europe
MarketAxess is an operator of an electronic trading platform for fixed-income securities, offering liquidity opportunities, execution quality and cost savings across global fixed-income markets.
It also provides market data and post-trade services for the global fixed-income markets.
The acquisition of the Regulatory Reporting Hub is expected to help MarketAxess further expand and improve services across a broader European client base, predominantly in the Germany, France and the Nordics regions.
The transaction is planned to be completed in the fourth quarter of 2020, subject to the satisfaction of certain customary closing conditions.
MarketAxess claims that an international network of more than 1,700 companies, including top asset managers and institutional broker-dealers use its patented trading technology to trade bonds.
Furthermore, it provides automated trading solutions, market data products and a range of pre- and post-trade services, by leveraging its deep data and analytical resources.
MarketAxess EMEA and APAC head Christophe Roupie said: “With over 30 years of experience in providing regulatory reporting and data services to the world’s leading financial institutions, we know just how important they are for our clients.
“With this acquisition, we’re strengthening both our global post-trade and data businesses in two important ways: significantly extending our European client footprint, and increasing our ability to bring new, innovative technologies and solutions to a critical and complex part of the trade lifecycle.”