Baymarkets separates its business 10 April 2018Stockholm Reporter: Jenna Lomax
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Baymarkets Technology (Baymarkets) has separated its current business into two independent companies, Reg&Tech Solutions (Reg&Tech) and Baymarkets.
Reg&Tech is a new company created by three of the previous founders of Baymarkets and Reg&Tech’s CEO, Per Andersson.
Reg&Tech addresses the regulatory challenges facing financial institutions around the globe.
Baymarkets will continue to provide financial technology solutions to marketplaces and clearing houses, based on the Clara clearing platform. It will be led by Tore Klevenberg as CEO and Peter Fredriksson as chairman.
Andersson, said: “The financial markets are rapidly becoming fully electronic, driven by regulations and new enabling technologies.”
He added: “There is a strong demand for solutions and platforms that automate and streamline the business processes to comply with these new regulations as well as to increase operational efficiency.”
Klevenberg commented: “I’m looking forward to this new phase in the development of Baymarkets’ clearing and marketplace offering. The Clara platform has proven to be very efficient at addressing all the demands of a modern clearing solution.”
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