Kaizen Reporting has purchased compliance solutions provider Red Deer for an undisclosed sum.
This follows on the heels of Kaizen’s acquisition of repo data and analytics specialist London Reporting House in early March.
Red Deer’s surveillance and research solutions will be available via the Kaizen hub, Kaizen’s web-based regulatory technology platform that supports a wide range of compliance tools.
The acquisition will add Red Deer’s surveillance and research capability, currently available through its proprietary technology platform, assisting middle office and compliance divisions in meeting regulatory compliance obligations and identifying cases of market abuse, including spoofing, layering and other market manipulation in exchange-traded and over-the-counter markets.
Red Deer’s online research tools help firms to manage compliance commitments including Unbundling and Fair Value requirements under MiFID II, while its communications surveillance solutions can screen and trace email and chat conversations for cases of illegal activity.
Kaizen Reporting’s CEO Dario Crispini says: “As a leading RegTech provider, we are always looking to diversify our compliance offering for clients. The acquisition of Red Deer demonstrates our strengths in supporting clients with their regulatory and compliance needs and we are delighted to offer this new range of surveillance and research tools to our clients through the Kaizen Hub.”
Alistair Downes, head of product at Red Deer, adds: “By combining the two companies’ expertise and technology, we are able to solve clients’ regulatory challenges more effectively. Kaizen’s reputation for delivering leading services in the reporting industry, along with the service and tools we offer, will create an integrated solution for all of a firm’s regulatory and compliance needs.”
