Alejandro Perez

Alejandro Perez, Global Head of Post-Trade Solutions, Bloomberg

Bloomberg has acquired a New York-headquartered startup RegTek.Solutions, a global provider of regulatory reporting software solutions.

The deal is expected to amplify the range of Bloomberg’s regulatory reporting services and deliver a fully integrated and comprehensive service that supports compliance with current and upcoming regulatory reporting requirements across multiple jurisdictions around the globe.

RegTek Solutions’ modular software solutions built around actionable regulatory intelligence will be integrated with Bloomberg’s Regulatory Reporting Hub (RHUB), as well as Bloomberg’s enterprise data management and trading systems.

“The combination of RegTek.Solutions with Bloomberg RHUB allows us to substantially expand our regulatory reporting coverage, and offer quality and control tools to help our clients effectively meet the wide range of global reporting requirements,” Alejandro Perez, Global Head of Post-Trade Solutions, Bloomberg said.

Post-acquisition, clients will have access to a fully electronic reporting workflow including transaction reporting eligibility, data validation, enrichment, and reconciliation, to help them maximize accuracy and inclusiveness in their reporting obligations.

Brian Lynch, Co-founder, and CEO at RegTek.Solutions said, “…combining our solutions with the strength and scale of Bloomberg’s RHUB services, as well as access to their market data, enterprise data management, analytics, and enrichment capabilities will allow us to offer the cross-jurisdictional, cross-asset solutions that our clients demand. We can now continue to deliver sustainable compliance at a scale that will have a fundamental market impact.”

RegTek.Solutions offer trade reporting solutions and compliance software titled ‘Report-It’, which enable firms to improve the quality, transparency, and control of regulatory reporting obligations across multiple jurisdictions and asset classes, including OTC Swaps, Credit, Rates, and Equity, as well as FX and Commodities trading. The firm has ten of the G15 banks on its client list.

The startup was launched in the year 2017, as a specialist provider of global regulatory compliance software by Risk Focus Inc., the risk and regulatory services firm. In September 2017, RegTek secured Series A funding of $5 million from Deutsche Börse and Illuminate Financial Management LLP.

by Sheeba Bhagat Dawar
Market Analyst at IBS Intelligence