Reuters logo
BRIEF-ICAP buys Abide Financial to boost regulatory reporting business
October 13, 2016 / 6:10 AM / a year ago

BRIEF-ICAP buys Abide Financial to boost regulatory reporting business

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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below