Euronext has acquired Substantive Research in its entirety as the group looks to enhance its investor services segment.
London-headquartered Substantive Research provides research and market data benchmarking to more than 100 global clients across Europe and North America.
Speaking about the deal, Mike Carrodus, founder and chief executive of Substantive Research, said: “Euronext’s acquisition of Substantive Research underlines our team’s hard work in creating a unique price benchmarking database in investment research and market data. With the research market poised for yet more regulatory-driven changes, plus market data consumers grappling with increasing costs and pricing opacity, we are so excited to be able to accelerate our coverage and data depth with Commcise and Euronext’s insight and resources.
“It feels great that we can now accelerate development into areas we know our clients need greater market transparency.”
Read more: In conversation with… Substantive Research’s Mike Carrodus
Substantive Research will be particularly beneficial for clients of Euronext’s subsidiary Commcise, which offers cloud-based, fully integrated commission management, research valuation, consumption tracking and payment solutions.
With the integration of Substantive Research, these clients will be able to gain access to unique market benchmarks, enabling asset managers to demonstrate compliance with evolving regulation in a single, integrated technology solution.
Camille Beudin, head of diversified services, Euronext, said: “The acquisition of Substantive Research will accelerate the growth of our investor services business with leading research and market data benchmarking capabilities and cross-selling potential with Commcise, our commission management and research valuation solutions.”