Deutsche Börse is expanding its market data and analytics services to cover counterparty data: The company announced on Wednesday it will acquire a 51 percent stake in Azdex Limited, a UK provider of business entity data content and services established in 2003. The purchase price was not disclosed.
The overall cash investment for Deutsche Börse is in the area of a single digit million figure and includes a contribution to the Azdex share capital. The remaining 49 percent stake in Azdex is held by the company's two founders. The transaction will be closed in mid September. Transaction to be closed mid September.
"By taking a stake in Azdex, Deutsche Börse is extending its range of back office data services and is responding to a growing market demand: New regulatory requirements force financial institutions to clean up their information on legal entities making counterparty data a market with promising potential," said Holger Wohlenberg, Managing Director for Market Data & Analytics at Deutsche Börse. At the same time Deutsche Börse intends to include this counterparty data in its data bases creating additional business opportunities for Deutsche Börse Group.
Azdex Limited provides validated, corrected and enriched global business entity reference data to the financial markets. This includes data such as corporate hierarchies, registered address information, industry sector codes and company identifiers. Azdex operates an innovative business model: Based on its technology, sound business processes and expertise, the company collects business entity data records contributed primarily by financial institutions, verifies the data and makes it available to its clients. Current clients include Barclays Capital Services, Citigroup, Dresdner Kleinwort Wasserstein and the Corporate and Investment Banking Division of the Standard Bank of South Africa.
Deutsche Börse's Market Data & Analytics section compiles, distributes, and markets independent capital market information, such as price data, trading statistics, and back office information for banks and financialinstitutions. In addition, Deutsche Börse calculates and publishes more than 1,700 indices. This makes the company one of the most significant index providers worldwide.
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