IHS Markit announced the acquisition of Catena Technologies, a global regulatory trade reporting firm based in Singapore. Financial terms were not disclosed.
Catena started out as a fintech consultancy in 2002 before becoming 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. TRACE Reporting covers G20 jurisdictions, such as ASIC, MAS, HKMA, and EMIR, as well as MiFID II reporting.
“The MarkitSERV team has been working closely with Catena for several years to help investment firms and banks overcome the numerous data and technology hurdles they face in trade reporting,” said Julian Chesser, head of Asia Pacific for MarkitSERV at IHS Markit. “Bringing the expertise and technology from Catena into MarkitSERV and our other compliance platforms will enable us to provide even more comprehensive and efficient trade reporting services to customers globally.”
MarkitSERV provides end-to-end trade processing and workflow solutions that support all participants in OTC trading, from post-trade notices of execution, trade confirmation and allocations to clearing and reporting. Its solutions support a broad range of asset classes and products, working continuously with the global financial industry to ensure swift and efficient coverage of new products.