IHS Markit has acquired Singapore-based Catena Technologies, a regulatory trade reporting provider. Terms of the deal were not disclosed and IHS says the impact on its earnings will be “non-material”.
Catena was founded by its chairman, Randall Duran, in 2002 as a fintech consultancy and transformed to become a software-as-a-service (SaaS) provider of trade reporting solutions in 2014. Its Trace Reporting platform automates and manages trade reporting, providing cross-asset coverage, valuation and collateral reporting, and reconciliation, and covers G20 jurisdictions, such as ASIC, MAS, HKMA, and EMIR, as well as MiFID II reporting.
“The acquisition of Catena is a logical extension of IHS Markit’s strategy to provide comprehensive solutions that enable our customers to fulfill their global regulatory compliance needs,” says John Barneson, senior vice president and head of platforms and regulatory compliance at IHS Markit.
“As part of IHS Markit, we will be able to offer customers a seamless, single-vendor solution that integrates transaction reporting with other post-trade and compliance workflows,” adds Aaron Hallmark, CEO of Catena. “This capability will enable customers to streamline their trade-reporting processes, reduce costs, and focus on strategic initiatives.”