Following news that CMEW Group was shutting its regulatory reporting business in Europe and Asia earlier this year, Deutsche Borse has also signalled an exit from that market with the sale of its Regulatory reporting Hub to fixed income trading platform MarketAxess.
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 says the acquisition of the Hub will help to further expand and enhance its existing services across a broader European client base, particularly in Germany, France and the Nordics.
“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,” says Christophe Roupie, head of EMEA and APAC at MarketAxess. “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.”