Swiss financial infrastructure group SIX will acquire the remaining 50% stake in European trade repository REGIS-TR from joint venture partner Clearstream.
Financial details were not revealed but the company said, “The transaction is expected to close in the first half of 2022. The acquisition allows for a full consolidation and integration of the REGIS-TR business within SIX.”
REGIS-TR is a European trade repository for reporting trades and transactions across multiple product classes and jurisdictions, open to financial and non-financial institutions.
The joint venture between BME’s Iberclear and Deutsche Börse’s Clearstream was forged in 2010 and processed over 3.2 bn trade messages in 2020, according to SIX.
Iberclear, part of SIX, is to become sole shareholder of Regis-TR and to continue to grow the existing business.
SIX stated that REGIS-TR is an important complimentary business to its existing services with significant potential for further growth. The full consolidation of the business represents an opportunity for SIX to further integrate and deliver a suite of leading streamlined services to customers across Europe.
Javier Hernani, Head Securities Services & member of Executive Board, SIX, said, “We are very happy to now fully integrate the REGIS-TR business, which has already been an integral part of BME’s business portfolio. We look forward to taking the business into its next phase of development within SIX. We are delighted to now fully welcome the entire REGIS-TR team and their talent and expertise to SIX.”
Thomas Steimann, CEO of REGIS-TR added, “With the acquisition REGIS-TR will continue to leverage on the strong operational connections with SIX, we will take advantage of a very experienced and seasoned management team with a deep knowledge of the Trade Repository environment and continue with our dedication to service excellence for our customers.”
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