London-based information provider IHS Markit (NYSE: INFO) today announced that it has acquired compliance technology provider Cappitech. The move aims to expand IHS Markit’s suite of global, multi-asset class transaction regulatory reporting offerings to the financial industry.
Privately held Israeli company Cappitech provides regulatory reporting, best execution analysis and business intelligence solutions, which allow its customers to efficiently comply with transaction reporting regulations across multiple jurisdictions in one place. The firm’s scalable cloud-based platform is used by more than 200 global banks, brokers, asset managers, hedge funds and corporations.
Pierre Khemdoudi, Managing Director, Global Equities at IHS Markit said:
Regulatory reporting demands will continue to grow rapidly around the globe and customers are looking for a reliable, frictionless and cost-effective way to comply with requirements across jurisdictions. Cappitech’s platform complements our existing offering, enabling us to provide the most comprehensive and scalable integrated financial regulatory service to customers.
Ronen Kertis, CEO & Founder at Cappitech commented:
Ronen Kertis Source: LinkedIn
We are excited to join a company that shares our passion for providing best-of-breed regulatory reporting solutions and looking forward to expanding our existing commitment to the industry. Based on our extensive engagement with IHS Markit over the past two years, we are confident that combining our mutual successes and sector expertise will enable us to accelerate our product enhancement and services for the benefit of our global clients.
IHS Markit chose Cappitech’s platform in 2019 as a key component of its SFTR (Securities Financing Transactions Regulation) solution. Capitalizing on the established relationship and existing integration, this latest move will deliver unified solutions to the market and solidify IHS Markit’s continued commitment to providing regulatory reporting solutions.
Independent writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.