Nasdaq has agreed to acquire Sybenetix, a UK-based provider of regulatory technology, for an undisclosed sum.
Sybenetix uses behavioural analytics to solve surveillance challenges within the asset management industry. The firm is backed by Summer Capital, Collinio Capital and Yarrow Capital. The company’s portfolio will now be integrated with Nasdaq’s risk solutions that includes SMARTS and TradeGuard.
Nasdag said that the integration of Sybenetix will allow it to offer better technology expertise to buy-side compliance officers across the global capital markets, improve its conduct surveillance offering and support compliance departments in meeting the requirements of regulations including MAR, MiFID II, and Dodd-Frank.
Nasdaq president and CEO Adena Friedman said: “This acquisition accelerates our offering to the buy-side and advances our ambitions to expand market integrity controls into all segments of the capital markets.”
Nasdaq said that it pay for the acquisition using cash on hand and expects the deal to offer good returns.
“We believe behavioral science, cognitive computing and machine intelligence are essential to a successful, holistic surveillance offering and critical to efficient and effective organizational compliance with an increasingly intricate global regulatory environment. As such, we are thrilled to welcome the talented technology team and clients from Sybenetix,” Friedman added.