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ICAP Acquires UK Regulatory Specialist Abide Financial.

M2 EQUITYBITES-October 14, 2016-ICAP Acquires UK Regulatory Specialist Abide Financial


14 October 2016 - UK-based markets operator ICAP plc (LSE: IAP) has acquired UK-based regulatory reporting specialist Abide Financial (Abide), the company said.

The firm will become a subsidiary of ICAP's Post Trade Risk and Information division.

Abide Financial provides regulatory reporting technology, ensuring market participants are compliant with evolving reporting obligations.

Founded in 2011, it has offices in London and Bristol, from where the company will continue to operate.

The 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.

Through Euclid, ICAP has made a number of financial technology investments identifying companies with platforms, business models and technologies that have the potential to drive efficiency, transparency and scale across the post trade lifecycle.

ICAP provides post trade risk mitigation and information services.

The group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks.

Abide Financial manages transaction reporting for financial and non-financial counterparties in UK, Europe and beyond to help market participants meet MiFID, EMIR, REMIT and international reporting obligations.

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Publication:M2 EquityBites (EQB)
Geographic Code:4EUUK
Date:Oct 14, 2016
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