IHS Markit has acquired Catena Technologies, a regulatory trade reporting firm based in Singapore. Financial terms were not disclosed.
Catena was founded in 2002 as a fintech consultancy and transformed 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 across G20 jurisdictions.
"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,” said Aaron Hallmark, CEO of Catena. "This capability will enable customers to streamline their trade-reporting processes, reduce costs, and focus on strategic initiatives."
Catena will be integrated with IHS Markit's MarkitServ reporting platform.
Julian Chesser, head of Asia Pacific for MarkitServ, comments: “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."