MDX Technology undergoes corporate restructuring

Source: MDX

MDX Technology Limited (MDXT), the leading provider of real-time data collaboration and distribution solutions for the global trading community and financial services industry today announces the completion of a corporate restructuring programme.

With immediate effect, the new company structure incorporates three entities: MDX Holdings Limited (MDXH), MDX Technology Limited business (MDXT) and the new MDX Content Limited company trading as IOWA.rocks. MDXH owns 100% of the shares in both the MDXT and IOWA.rocks businesses with no changes to the existing shareholders or management team. With immediate effect MDXT and IOWA.rocks will operate as separate organisations and continue to be headed up by Group CEO, Paul Watmough.

Paul Watmough commented. “The formation of the new structure is the next obvious step in our corporate development as we look to build on our successes to date with our technology and exploit the many new content opportunities coming our way. For MDXT, we remain wholly focussed on growth, so it’s business as usual and there will be no impact on our new and existing customers. However, given the enormous interest in IOWA.rocks our latest content focussed business, it made sense to formally separate the two and establish a new trading arm which would enable IOWA.rocks to operate independently whilst remaining an integral part of the new corporate group.”

The IOWA.rocks company, previously called Project IOWA, is being driven on the ground by Chief Revenue Officer, Darren Bishop. IOWA.rocks, the new financial data marketplace, is the latest way to showcase, distribute and digest both market data and alternative data sources. It will enable many more content consumers and creators of both nascent and established data to seamlessly connect and transact business faster and more cost effectively than ever before. Powered by MDXT, IOWA.rocks is underpinned by world class technology which is recognised across the industry as being the most advanced in the business.

Darren Bishop said. “Cost, modern technologies and a new generation of users are turning this business upside down, forcing a pace of change within a sector that has fundamentally operated in the same way for decades. I believe we have finally reached a tipping point in the industry and that IOWA.rocks is perfectly aligned to meet the needs of the new buyers and sellers of information. Whether one is a content consumer or a content creator, our vision for IOWA.rocks is very simple - to democratise the free-flow of all market data types globally and to truly enable collaboration for all market participants. This will provide new choices and flexible commercial terms that were not previously available. The number of inbound enquiries, from both new and established players and the content partners themselves who are all expressing significant interest in what we are doing has been amazing. To say I am excited about the future for IOWA.rocks is an understatement!”

David Priestley, Group Executive Chairman of MDX Holdings concluded. “The value of the market data business is estimated to be in excess of a mouth-watering US$27 billion globally*. A compelling number by anyone’s standards. For nearly a decade MDXT has quietly been building and delivering robust solutions which are currently in use in more than 25 of the world’s top financial institutions. Bringing this wealth of experience to the new world of content creation and consumption to support those seeking change by launching IOWA.rocks was the obvious thing to do. And why reinvent the wheel? We have technology that works and an unrivalled reputation for world class customer service, it’s a perfect combination. MDXT and IOWA definitely rocks!”

*source:Burton Taylor
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