Kaizen Reporting has purchased a majority stake in London Reporting House.
London Reporting House was formed in 2021 by chief executive Danny Corrigan, head of product Richard Comotto and a team of fellow repo specialists that aim to bring a new level of real-time transparency to the repo markets.
Its platform aggregates, enriches and evaluates Securities Financing Transactions Regulation (SFTR) trading data on an anonymised basis to provide deeper insight into repo market trading conditions in the European Union and UK.
The company indicates that its market information provides users with analytics on GC repo spreads and curves, ‘specials’, collateral haircuts and pricing, transaction flows and open interest.
With the acquisition by Kaizen, London Reporting House’s tools and analytics will be available through its web-based regulatory information and compliance platform known as Kaizen Hub.
Speaking about the transaction, Kaizen Reporting CEO Dario Crispini says: “Our partnership with London Reporting House shows our commitment to expanding the services we can offer our clients. It also highlights our belief in the expertise and creativity that Danny and Richard bring to London Reporting House and the products they are building.
“The products they are creating provide invaluable information for trading and risk teams at a time when financial institutions are looking for enhanced transparency and data across all markets.”
Danny Corrigan, CEO and co-founder of London Reporting House, comments: “By joining forces [with Kaizen Reporting], we are able to enhance our offering and build out our platform which leverages Kaizen’s IT infrastructure and legal framework for onboarding.
“Bringing their expertise and technology together with ours, we are able to offer the repo market a unique service that creates a transparent and deep view of the UK and EU repo markets.”
SFT will provide further details on this transaction shortly.
Last week, London Reporting House confirmed the addition of securities finance market veteran Mick Chadwick to its team.