Swedish FinTech agency Baymarkets Expertise AB (Baymarkets) right this moment introduced that it has separated its present enterprise into two impartial corporations – Reg&Tech Options AB (Reg&Tech) and Baymarkets AS.
Three earlier founders of Baymarkets together with Reg&Tech’s CEO Per Andersson has created the brand new firm Reg&Tech Options AB amid separation kind Baymarkets. The agency will proceed to ship its options in Massive Information automation. Its merchandise deal with the regulatory challenges confronted by monetary establishments across the globe.
Per Andersson, CEO of Reg&Tech Options commented: “The monetary markets are quickly changing into absolutely digital, pushed by laws and new enabling applied sciences.”
Final 12 months, Baymarkets launched a brand new Reg&Tech market resolution, known as Readability, aiming at banks, brokers, and exchanges. It was launched to deal with plenty of totally different regulatory challenges amidst an rising demand for automated workflows. Furthermore, the answer additionally helps shore up pre and post-trade obligations throughout the entire commerce lifecycle.
“There’s a sturdy demand for options and platforms that automate and streamline the enterprise processes to adjust to these new laws in addition to to extend operational effectivity,” Andersson added.
The second firm, Baymarkets AS might be led by Tore Klevenberg as its CEO and Peter Fredriksson as Chairman. The agency will proceed to offer FinTech options to marketplaces and clearing homes and like earlier than, the merchandise might be primarily based on Clara clearing platform.
“I’m trying ahead to this new section within the improvement of Baymarkets’ clearing and market providing,” Klevenberg stated. “The Clara platform has confirmed to be very environment friendly at addressing all of the calls for of a contemporary clearing resolution.”