Regulatory technology firm, Kaizen Reporting announced that it has acquired Red Deer, a provider of integrated compliance solutions for surveillance and research workflows.
Red Deer’s proprietary technology platform “provides surveillance and research tools that help middle office and compliance teams at banks, asset management and trading firms comply with regulations, including market abuse and manipulation.”
Its trade and communications surveillance technology “helps companies spot market abuse including spoofing, layering and other forms of manipulation in exchange and OTC markets, while the communications surveillance product can scan and trace emails and chat conversations for signs of prohibited activity.”
In addition, Red Deer’s online research management tools “provide solutions for managing MiFID II’s Unbundling and Fair Value rules.”
The Red Deer surveillance and research tools “will be available via the Kaizen Hub, a web based RegTech platform for accessing a range of compliance tools.”
Dario Crispini, CEO of Kaizen Reporting, commented:
“As a leading RegTech provider, we are always looking to diversify our compliance offering for clients. The acquisition of Red Deer demonstrates our strengths in supporting clients with their regulatory and compliance needs and we’re delighted to offer this new range of surveillance and research tools to our clients through the Kaizen Hub.”
Alistair Downes, Head of Product at Red Deer, commented:
“We are delighted to be part of Kaizen and by combining the two companies’ expertise and technology we are able to better solve clients’ regulatory challenges. Kaizen’s reputation for delivering leading services in the reporting industry along with the service and tools we offer will create an integrated solution for all of a firm’s regulatory and compliance needs.”
Last month Kaizen announced it had “acquired a majority stake in London Reporting House, a new service that brings unrivalled insight into the repo market.”
The terms of the acquisition “were not disclosed.”
As noted in the update, Red Deer’s proprietary technology platform “provides surveillance and research tools that help middle office and compliance teams at banks, private equity, asset and wealth managers and trading firms comply with regulations, including market abuse and manipulation as well as MiFID II’s unbundling and fair value rules.”
They claim to “have a proven track record of delivering innovative front office solutions, regulatory compliance, research consumption and cutting-edge technology to the buy side. Our technology is trusted by tier one firms within Private Equity, Alternatives, Asset Management and Wealth.”
