The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Talking Reference Data with Andrew Delaney: Markit Eats Asset Control – Can It Be True?

That Asset Control has been on the sales block for the better part of the 12 months isn’t a surprise to anyone. But that Markit, recent acquirer of EDM platform Cadis, would be the acquirer from current owner Fidelity Ventures? That’s something else.

To be fair, we’ve been hearing that Asset Control, an early innovator in the EDM space, had at last found a buyer for the past couple of weeks. Now, we hear – and have yet to confirm – Markit has emerged as the suitor. Can it be true?

Well, it could make sense.

Cadis made its name through offering a nimble data management solution for the buy side. Markit has significant penetration for its data services among the world’s major sell sides. Asset Control, with its strength on the sell side, could help connect the dots, allowing Markit data to flow between brokers and their clients, all under the auspices of Markit EDM.

The valuation we are hearing is just over one times revenue. Cadis did well with its price, which was north of $100 million, we believe. We’ll sit back and await the press release.

If we are right, the move would eliminate a key independent player in the enterprise data management space, leaving behind only Goldensource and a raft of smaller niche players including AIM Software, First Derivatives, Smartstream and others.

Who will be next to be gobbled up? And who would be the gobbler? Bloomberg already has PolarLake. Thomson Reuters wants out of that segment. That leaves the likes of Interactive Data and SIX Financial, each of which has its own approach to data integration in the enterprise space.

It all promises to make for good copy, that’s for sure.

Related content

WEBINAR

Recorded Webinar: How to maximise data sources created by MiFID II

Don’t miss this opportunity to view the recording of this recently held webinar. Markets in Financial Instruments Directive II (MiFID II) creates new data sources that could be used to identify business opportunities and gain competitive edge. The sources include Approved Publication Arrangements (APA) and ESMA’s Financial Instruments Reference Data System (FIRDS). The regulation also...

BLOG

Blackmore Capital’s Collaboration with OTCfin Completes Integration of ESG Factors into Investment Process

Blackmore Capital, a Melbourne-based asset manager set up in 2018, and New York-based OTCfin have completed the integration of ESG factors with financial data for all Blackmore portfolios. By incorporating ESG factors into Blackmore’s investment process, OTCfin’s risk and regulatory reporting solution will help the asset manager’s team improve portfolio monitoring from both a financial...

EVENT

RegTech Summit New York City

Now in its 5th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Putting the LEI into Practice

Hundreds of thousands of pre-Legal Entity Identifiers (LEIs) have been issued by pre-Local Operating Units (LOUs) in the Global LEI System (GLEIS), and the standard entity identifier has been mandated for use by regulators in both the US and Europe. As more pre-LEIs are issued ahead of the establishment of the global systems’ Central Operating...