MarketAxess announced it’s entered into an agreement via Trax to acquire Deutsche Börse’s Regulatory Reporting Hub, a move expected to increase MarketAxess’ European client base for the services, particularly Germany, France and the Nordics. The deal is expected to close in Q4 2020. Financial details were not disclosed.
Christophe Roupie, head of EMEA and APAC at MarketAxess, said in a statement: “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.”
MarketAxess is the operator of an electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets. Trax is its wholly-owned subsidiary in the Netherlands. The Regulatory Reporting Hub is a pan-European reporting and compliance platform for 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.