MarketAxess buys Deutsche Börse’s regulatory reporting business

Dan Barnes

Fixed income market operators and data provider, MarketAxess, has entered agreed to buy the Regulatory Reporting Hub, the regulatory reporting business of Deutsche Börse Group. MarketAxess will acquire the business through Trax, its wholly owned subsidiary in the Netherlands.

The Regulatory Reporting Hub is a pan-European reporting and compliance platform that supports buy- and sell-side clients in meeting their regulatory obligations and transparency requirements across multiple regulations, such as MiFID II and the European Markets and Infrastructure Regulation (EMIR). Services include transaction and trade reporting, best execution reporting and systematic internaliser (SI) services, as well as approved publication arrangements (APA) and approved reporting mechanism (ARM) services.

MarketAxess is already a provider of post-trade reporting and pre- and post-trade data services. The acquisition of the Regulatory Reporting Hub will help to further expand these services across a broader European client base, particularly in Germany, France and the Nordics.

Christophe Roupie, head of EMEA and APAC at MarketAxess, commented, “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.”

The transaction is expected to close in the fourth quarter of 2020, subject to the satisfaction of customary closing conditions. Both MarketAxess and Deutsche Börse have committed to a smooth service transition for all customers. The Regulatory Reporting Hub is being sold through Regulatory Services GmbH, a subsidiary of Deutsche Börse Group. The sale of the Regulatory Services business unit does not affect any other services provided by Deutsche Börse Group.