Oct 13 (Reuters) - Icap Plc
* Icap, the markets operator and provider of post trade risk mitigation and information services, announces today that it has acquired abide financial
* Abide will become a subsidiary of ICAP’s Post Trade Risk and Information (PTRI) division. Collin Coleman, Abide’s CEO, will report to Jenny Knott, CEO of PTRI.
* Abide acts as a reporting hub for EMIR, Approved Reporting Mechanism for MiFID and a Regulatory Reporting Mechanism for REMIT.
* Abide is currently awaiting ESMA’s approval to become a Trade Repository and is developing its MiFiD II offering.
* Transaction has been led by euclid opportunities, icap’s investment arm focused on emerging fintech companies. Euclid made a strategic investment in abide in july 2015.
* Financial terms were undisclosed Source text for Eikon: Further company coverage: (Reporting By Sinead Cruise)