MarketAxess agrees to acquire Deutsche Börse Group’s regulatory reporting business
MarketAxess will acquire the Regulatory Reporting Hub through Trax NL B.V., its wholly owned subsidiary in the Netherlands.
Operator of a major electronic trading platform for fixed-income securities, and provider of market data and post-trade services MarketAxess Holdings Inc. has entered into an agreement to acquire Regulatory Reporting Hub, the regulatory reporting business of Deutsche Börse Group. MarketAxess will acquire the business through Trax NL B.V., its wholly owned subsidiary in the Netherlands.
The Regulatory Reporting Hub is a pan-European reporting and compliance platform that enables buy- and sell-side clients to meet their regulatory obligations and transparency requirements across multiple regulations, such as MiFID II and EMIR. Services include transaction and trade reporting, best execution reporting and SI services, as well as APA and ARM services.
MarketAxess is already a major provider of post-trade reporting and pre- and post-trade data services. The acquisition of the Regulatory Reporting Hub is set to help it further expand and enhance these services across a broader European client base, particularly in Germany, France and the Nordics.
Christophe Roupie, Head of EMEA and APAC at MarketAxess, commented: “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.”
The transaction is expected to close in the fourth quarter of 2020, subject to the satisfaction of customary closing conditions.