Why CME couldn’t sell its reg reporting arms
Costs and competition proved fatal for Abide and Nex businesses and trade repositories
In the world of financial technology, mergers and acquisitions (M&A) are simply a way of life. In May 2016, Nex Group was born after Icap sold its broking business to Tullett Prebon. Five months later, Nex (still using the Icap moniker) bought Abide Financial to bolster its suite of regulatory reporting services. Just over two years later, on November 2, 2018, CME Group closed its acquisition of Nex.
But a year after closing the Nex deal, CME couldn’t find any takers for the regulatory
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