SIX has entered a definitive agreement to acquire a 50% stake in European trade repository REGIS-TR from its joint venture partner Clearstream.
The transaction is expected to close in the first half of next year. Financial terms of the acquisition were not disclosed.
As part of the deal SIX’s subsidiary, Iberclear, will become sole shareholder of REGIS-TR and will continue to grow the existing business.
The REGIS-TR business will be fully consolidated and integrated within SIX to allow it to offer a streamlined service across Europe.
Originally founded in 2010, REGIST-TR is a European trade repository for the reporting of trades and transactions cross-asset set up by BME’s Iberclear and Deutsche Börse’s Clearstream. It claimed to have processed 3.2 billion trade messages last year.
“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,” said Javier Hernani, head securities services & member of executive board at SIX.
It is the second acquisition by SIX in the last few months after it acquired London-based index and data provider ULTUMUS, announced in July. Through the acquisition, SIX aimed to bring new data to clients trading exchange traded funds (ETFs), making the ETFs market more efficient and transparent.
“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,” said Thomas Steimann, chief executive of REGIS-TR.