Deutsche Boerse completes Regulatory Reporting Hub sale to MarketAxess
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Deutsche Boerse completes Regulatory Reporting Hub sale to MarketAxess 01 December 2020Germany Reporter: Drew Nicol
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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鈥� wholly-owned Dutch subsidiary, Trax, and is predicted to have earned the German stock exchange group between 鈧�10 million and 鈧�50 million.
Christophe Roupie, head of Europe, the Middle East, and Africa and Asia Pacific at MarketAxess, says the deal will 鈥渉elp us to extend the full front-to-back trade lifecycle services that we offer, from trading and data through to reporting and regulatory compliance鈥�.
鈥淲e鈥檙e delighted to welcome clients of the Regulatory Reporting Hub to MarketAxess,鈥� he says, stating that the acquisition 鈥渋s a firm demonstration of our long-term commitment to building our regulatory reporting infrastructure across Europe鈥�.
Deutsche Boerse鈥檚 clients will be transitioned to MarketAxess 鈥渙ver the coming months鈥�, 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.
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