Bloomberg Acquires RegTek.Solutions To Expand Regulatory Reporting Services
Bloomberg today announced that it has acquired RegTek.Solutions, a leading provider of global regulatory reporting software solutions. The acquisition will expand the range of regulatory reporting services offered by Bloomberg, and deliver a fully integrated and comprehensive service that supports compliance with current and upcoming regulatory reporting requirements across multiple jurisdictions around the world.
RegTek.Solutions, which provides 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 acquisition will bring together the expertise of both firms to deliver a systematic and robust offering,combining Bloomberg data enrichment and reporting capabilities with RegTek.Solutions’ quality and control tools across a broad range of global reporting jurisdictions.
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 completeness in their reporting obligations.
“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,” said Alejandro Perez, Global Head of Post-Trade Solutions at Bloomberg. “As regulations become more complex, buy- and sell-side firms are looking for providers who can help them address requirements across various jurisdictions, with the necessary workflows and data structure that allows firms to maximize overall accuracy and completeness in their regulatory processes.”
Brian Lynch at RegTek.Solutions said, “RegTek has built an award winning product and impressive, tier-1 client base. 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.”