Fixed income trading platform MarketAxess has struck a deal to buy Deutsche Börse's regulatory reporting business. Financial terms were not disclosed.
MarketAxess will acquire the Regulatory Reporting Hub through its Trax subsidiary in the Netherlands. The deal is slated to close in the fourth quarter.
The Regulatory Reporting Hub is a pan-European platform that enables buy- and sell-side clients to meet regulatory obligations and transparency requirements across the likes of MiFID II and EMIR.
MarketAxess says the acquisition will help it expand its reporting business across a broader European client base, particularly in Germany, France and the Nordics.
Christophe Roupie, head, Emea and Apac, MarketAxess, says: "With this acquisition, we’re strengthening both our global post-trade and data businesses in two important ways: significantly extending our European client footprint, and increasing our ability to bring new, innovative technologies and solutions to a critical and complex part of the trade lifecycle."