Clearstream is selling its 50% stake in the European trade repository Regis-TR to its joint venture partner Iberclear, part of SIX, who is taking full control of the business.
Regis-TR, which processed more than 3.2 billion trade messages in 2020, was founded in 2010 as a joint venture between BME’s Iberclear and Deutsche Börse’s Clearstream. Open to financial and non-financial institutions, the repository is used for reporting trades and transactions across multiple product classes and jurisdictions
The sale comes as part of a strategic review by Clearstream, which intends to focus in future on growth in custody and funds services.
Javier Hernani, head securities service, SIX, comments: "We are very happy to now fully integrate the REGIS-TR business, which has already been an integral part of BME’s business portfolio. We look forward to taking the business into its next phase of development within SIX. We are delighted to now fully welcome the entire REGIS-TR team and their talent and expertise to SIX."
The transaction is expected to close in the first half of 2022. Financial terms were not disclosed.