IHS Markit has acquired Catena Technologies, a global regulatory trade reporting firm based in Singapore, for an undisclosed sum. The financial impact of the transaction will be non-material on IHS Markit earnings or earnings guidance.
John Barneson, senior vice president and head of Platforms and Regulatory Compliance at IHS Markit, commented: “The acquisition of Catena is a logical extension of IHS Markit’s strategy to provide comprehensive solutions that enable our customers to fulfill their global regulatory compliance needs.”
Founded by its Chairman, Randall E. Duran, in 2002, Catena started as a fintech consultancy and transformed to become a software-as-a-service (SaaS) provider of trade reporting solutions in 2014. Catena is best known for its TRACE Reporting platform, which automates and manages trade reporting, providing cross-asset coverage, valuation and collateral reporting, and reconciliation, covering G20 jurisdictions, such as ASIC, MAS, HKMA, and EMIR, as well as MiFID II reporting.
Aaron Hallmark, CEO of Catena, said: “As part of IHS Markit, we will be able to offer customers a seamless, single-vendor solution that integrates transaction reporting with other post-trade and compliance workflows. This capability will enable customers to streamline their trade-reporting processes, reduce costs, and focus on strategic initiatives.”
IHS Markit’s MarkitSERV will integrate Catena as it provides end-to-end trade processing and workflow solutions that support all participants in OTC trading, from post-trade notices of execution, trade confirmation, and allocations to clearing and reporting. MarkitSERV’s solutions support a broad range of asset classes and products, working continuously with the global financial industry to ensure swift and efficient coverage of new products.
Julian Chesser, head of Asia Pacific for MarkitSERV at IHS Markit, added: “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.”
In 2019, CME Group’s North American and European trade repositories have integrated the capabilities of Catena’s TRACE to help financial institutions fulfill global regulatory obligations for derivative trade reporting. The integration with CME Group‘s trade repositories allows customers in Europe, United States, Canada, and Australia, to benefit from automated G20 trade submission and post-submission reconciliation for customers with global trade reporting requirements.