CME’s Reg Reporting Rollback: A Sign of What’s to Come
Sources say the exchange group’s scaleback is a result of pricing wars, unsustainable business models, and the realities of commercially supporting a regulatory reporting business.
In the world of financial technology, M&A is simply a way of life. In May 2016, Nex Group was born after Icap sold its broking business to Tullett Prebon. Five months later, Nex (still using the Icap moniker) bought Abide Financial to bolster its suite of regulatory reporting services. Just over two years later, on Nov. 2, 2018, CME Group closed its acquisition of Nex.
But a year after closing the Nex deal, the CME couldn’t find any takers for the regulatory reporting businesses—Abide Financial
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