Ion Markets Buys Clarus

Ion Group continues to expand into OTC markets, the technology provider’s Ion Markets subsidiary has bought SaaS data provider Clarus Financial Technology. Terms of the deal were not disclosed.

Ion says the acquisition will expand its XTP platform through the addition of real-time margin and risk management and monitoring solutions for both cleared and uncleared OTC derivatives.

The firm says the deal will complement its Janus pricing and valuation expertise with Initial Margin for OTC derivatives, as well as delivering new portfolio risk management analytics. Clarus’ functionality also enables firms to comply with the recently updated Uncleared Margin Rules (UMR) regulation for OTC derivatives, it adds.

Clarus’ data covers exchanges, clearing houses, execution venues, and trade repositories. It also provides weekly market commentary and analysis on global derivatives markets.

“The acquisition of Clarus expands Ion Markets’ offering within its XTP platform, further automating and simplifying the post-trade derivatives business,” says Hishaam Caramanli, chief product officer at Ion Group. “This strategic expansion demonstrates Ion Markets’ leading position as provider of capital markets management solutions and our ongoing focus on digitising and automating workflows.” 

Amir Khwaja, CEO of Clarus Financial Technology, adds, “OTC derivatives is a market with regulatory tailwinds driving change and SaaS analytics and data is essential for success. As part of Ion Markets, Clarus will be able to best capitalise on this trend, maximising the ability to serve customers while providing complementary services to Ion’s XTP, Janus, and other Ion Group offerings.”