IHS Markit acquires Catena Technologies
04 May 2020 London
Image: SvenHansche/Shutterstock
IHS Markit has acquired Catena Technologies, a global regulatory trade reporting firm based in Singapore.
The acquisition marks a “logical extension” of IHS Markit's strategy to provide comprehensive solutions that enable its customers to fulfil global regulatory compliance needs, according to John Barneson, senior vice president and head of platforms and regulatory compliance at IHS Markit.
As part of IHS Markit, Catena will be able to offer customers a single-vendor solution that integrates transaction reporting with other post-trade and compliance workflows.
Catena’s CEO, Aaron Hallmark highlighted that this capability will enable customers to streamline their trade-reporting processes, reduce costs, and focus on strategic initiatives.
Catena was founded by its chair Randall Duran in 2002 as a fintech consultancy and transformed it to become a software-as-a-service (SaaS) provider of trade reporting solutions in 2014.
Its TRACE Reporting platform automates and manages trade reporting, providing cross-asset coverage, valuation and collateral reporting, and reconciliation, covering G20 jurisdictions including the second in Markets in Financial Instruments Directive reporting among others.
Julian Chesser, head of Asia Pacific for MarkitSERV at IHS Markit, said: “The MarkitSERV team has been working closely with Catena for several years to help investment firms and banks overcome the numerous data and technology hurdles they face in trade reporting.”
“Bringing the expertise and technology from Catena into MarkitSERV and our other compliance platforms will enable us to provide even more comprehensive and efficient trade reporting services to customers globally”, Chesser added.
IHS Markit’s MarkitSERV provides end-to-end trade processing and workflow solutions that support all participants in over the counter trading from post-trade notices of execution, trade confirmation and allocations to clearing and reporting.
The financial impact of the transaction will be non-material on IHS Markit earnings or earnings guidance. Terms were not disclosed.
The acquisition marks a “logical extension” of IHS Markit's strategy to provide comprehensive solutions that enable its customers to fulfil global regulatory compliance needs, according to John Barneson, senior vice president and head of platforms and regulatory compliance at IHS Markit.
As part of IHS Markit, Catena will be able to offer customers a single-vendor solution that integrates transaction reporting with other post-trade and compliance workflows.
Catena’s CEO, Aaron Hallmark highlighted that this capability will enable customers to streamline their trade-reporting processes, reduce costs, and focus on strategic initiatives.
Catena was founded by its chair Randall Duran in 2002 as a fintech consultancy and transformed it to become a software-as-a-service (SaaS) provider of trade reporting solutions in 2014.
Its TRACE Reporting platform automates and manages trade reporting, providing cross-asset coverage, valuation and collateral reporting, and reconciliation, covering G20 jurisdictions including the second in Markets in Financial Instruments Directive reporting among others.
Julian Chesser, head of Asia Pacific for MarkitSERV at IHS Markit, said: “The MarkitSERV team has been working closely with Catena for several years to help investment firms and banks overcome the numerous data and technology hurdles they face in trade reporting.”
“Bringing the expertise and technology from Catena into MarkitSERV and our other compliance platforms will enable us to provide even more comprehensive and efficient trade reporting services to customers globally”, Chesser added.
IHS Markit’s MarkitSERV provides end-to-end trade processing and workflow solutions that support all participants in over the counter trading from post-trade notices of execution, trade confirmation and allocations to clearing and reporting.
The financial impact of the transaction will be non-material on IHS Markit earnings or earnings guidance. Terms were not disclosed.
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