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Deutsche Boerse has completed the sale of its Regulatory Reporting Hub to MarketAxess, as of 30 November.
The regulatory reporting business was acquired by MarketAxess’ wholly-owned Dutch subsidiary, Trax, and is predicted to have earned the German stock exchange group between €10 million and €50 million.
Christophe Roupie, head of Europe, the Middle East, and Africa and Asia Pacific at MarketAxess, says the deal will “help us to extend the full front-to-back trade lifecycle services that we offer, from trading and data through to reporting and regulatory compliance”.
“We’re delighted to welcome clients of the Regulatory Reporting Hub to MarketAxess,” he says, stating that the acquisition “is a firm demonstration of our long-term commitment to building our regulatory reporting infrastructure across Europe”.
Deutsche Boerse’s clients will be transitioned to MarketAxess “over the coming months”, Roupie adds.
The German exchange says it will provide technical services until the completion of customer transition in 2021 and the completion of the sale will not affect any other services it offers.
