January 27, 2021

On the 12th January, IHS Markit announced a merger with CME Optimisation.

Cast your mind back only 2 months and you will remember CME Optimisation left ~300 of their clients without a solution for MiFIR and EMIR Reporting when they closed their regulatory reporting services.

One day prior to the merger, Markit also announced they had purchased Cappitech. Cappitech have become the vendor of choice for many of CME’s clients.

We believe the additional change projects caused by these mergers could jeopardise the integrity of the data being collected from regulatory reporting regimes.

If you’re reading this note, it is likely you understand the complexities of transaction reporting. You will understand that reporting applies differently to every product exchanged and trade flow executed. You will recognise the challenges for data sourcing, manipulation and integrity.

You will also appreciate the zero tolerance approach taken by regulators to inaccurate or incomplete regulatory reporting.

The synergies that a collection of streamlined post trade services offer look appealing on paper. However, the reality of providing a transaction reporting service is that it requires focus and organisation.

Where service providers fail to deliver the necessary focus, it can increase the risk of inaccurate reporting. We believe, because of this, businesses that offer a regulatory reporting service as part of a larger suite of services can have a negative effect on market transparency.

That is why this year we are celebrating our independence. It allows us to prioritise delivering on our mission of increasing market transparency without compromise.


Kind regards,

Murray Abel

Managing Director

D: +44 (0)20 3286 8889

Views expressed in any article are the views of the authors individually and do not necessarily reflect the view of Control Now Ltd

Control Now Ltd, founded in 2017, is a provider of Transaction Reporting Assurance software tools to empower market participants to perform oversight of their Regulatory Reporting Processes. Control Now Ltd provide TR Accuracy (Data Quality Assurance) and TR Completeness (Reconciliations) services. Please get in touch for a Free Proof of Concept or Health Check –