ION Markets, a global provider of trading, analytics, and risk management solutions for capital markets, has acquired Clarus Financial Technology, a provider of Software as a Service (SaaS) analytics, data, and research for global derivatives markets.
As part of ION Markets, Clarus will offer its SaaS analytics products for real-time margin and risk management of both cleared and uncleared OTC derivatives.
According to Clarus, this will broaden ION’s XTP offering and complement ION’s JANUS pricing and valuation expertise with initial margin for over the counter (OTC) derivatives, as well as delivering new portfolio risk management analytics.
Additionally, Clarus’ functionality enables firms to comply with the new Uncleared Margin Rules (UMR) regulation for OTC derivatives.
Clarus’ data provides transparency into the trading of derivatives, covering exchanges, clearing houses, execution venues, and trade repositories.
This data is relied upon by both buy and sell-side participants, brokers, service providers and regulators to analyse, inform, monitor, and act in traded markets.
Hishaam Caramanli, ION group chief product officer, says: “The acquisition of Clarus expands ION Markets’ offering within its XTP platform, further automating and simplifying the post-trade derivatives business.”
Caramanli continues: “This strategic expansion demonstrates ION Markets’ leading position as provider of capital markets management solutions and our ongoing focus on digitising and automating workflows.”
Amir Khwaja, CEO of Clarus, comments: “OTC derivatives is a market with regulatory tailwinds driving change and SaaS analytics and data is essential for success.”
“As part of ION Markets, Clarus will be able to best capitalise on this trend, maximising the ability to serve customers while providing complementary services to ION’s XTP, JANUS, and other ION Group offerings,” Khwaja.
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