Financial data and intelligence company IHS Markit is expanding its suite of global, multi-asset class transaction regulatory reporting offerings to financial services providers with the acquisition of Cappitech.
Cappitech, a private company based in Israel, provides robust regulatory reporting, best execution analysis and business intelligence solutions, allowing customers to efficiently comply with transaction reporting regulations across multiple jurisdictions in one place.
The firm’s scalable cloud-based platform is relied on by more than 200 global banks, brokers, asset managers, hedge funds and corporations, and its products and technology have received numerous industry awards.
In 2019, IHS Markit selected Cappitech’s platform as a key component of its Securities Financing Transactions Regulation (SFTR) solution, which is now relied on by some of the largest financial institutions in the world.
Capitalising on the established relationship and existing integration, the acquisition, for an undisclosed sum, will deliver unified solutions to the market and solidify IHS Markit’s continued commitment to providing industry-leading regulatory reporting solutions.
Pierre Khemdoudi, managing director of global equities at IHS Markit, says: “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, chief executive officer and founder at Cappitech, comments: “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.”