London-based IHS Markit, a global information provider established in 2016 with the merger of IHS Inc. and Markit Ltd., has acquired Catena Technologies, a Singapore-based regulatory trade reporting company.
Financial terms of the acquisition have not been shared publicly.
Founded in 2002, Catena served as a Fintech consultancy and evolved (in 2014) into a software-as-a-service (SaaS) provider of trade reporting software.
The company’s Trace Reporting platform automates the trade reporting process. It’s used to manage a platform that offers cross-asset coverage, valuation and collateral reporting, and reconciliation. The platform is available to entities operating in the G20 community and jurisdictions.
Aaron Hallmark, CEO of Catena, stated:
“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.”
Hallmark added:
“This capability will enable customers to streamline their trade-reporting processes, reduce costs, and focus on strategic initiatives.”
As part of the deal, the Catena platform will be added to IHS Markit’s MarkitServ reporting solution.
Julian Chesser, head of Asia Pacific at MarkitServ, remarked:
“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.”
Catena Technologies is managed by experienced financial professionals and technologists.
The Catena team claims that they have a solid understanding of business, technical, and integration considerations, which helps them with delivering solutions that meet customers’ short and long-term requirements.
The Catena team states:
“Our [software development] methodology combines critical aspects of project management, process improvement, system integration design, and change management to get early user feedback and minimize project delivery risk.”
Catena offers thought leadership and services related to:
- Business process management
- Trading system integration
- High-performance computing
- Enterprise architecture and channel implementations
- Latency Management
- OTC derivatives reform
- Data analytics integration