Oct 13 Icap Plc
* Icap, the markets operator and provider of post trade risk
mitigation and information services, announces today that it has
acquired abide financial
* Abide will become a subsidiary of ICAP's Post Trade Risk
and Information (PTRI) division. Collin Coleman, Abide's CEO,
will report to Jenny Knott, CEO of PTRI.
* Abide acts as a reporting hub for EMIR, Approved Reporting
Mechanism for MiFID and a Regulatory Reporting Mechanism for
* Abide is currently awaiting ESMA's approval to become a
Trade Repository and is developing its MiFiD II offering.
* Transaction has been led by euclid opportunities, icap's
investment arm focused on emerging fintech companies. Euclid
made a strategic investment in abide in july 2015.
* Financial terms were undisclosed
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(Reporting By Sinead Cruise)