Market Data Reporting from J&J is a managed services solution focused on providing reporting and related services to ensure compliance with licensing, provisioning, distribution and reporting policies.
The acquisition of MDR complements and augments TRG Screen’s existing managed services business, particularly the Axon Declaration Service (ADS). TRG Screen is already actively working on the integration of MDR and ADS into a best-of-breed solution, making it the go-to offering in the industry for a managed declaration service. This deal consolidates TRG Screen’s unique position as the only provider of enterprise subscription management capabilities spanning the whole spectrum of market data optimization, from spend and inventory tracking, through to usage and enquiry management, exchange reporting and compliance.
As part of the deal, a number of key Jordan & Jordan staff will move to TRG Screen providing continuity for clients and transfer of industry expertise.
“TRG & J&J have been friends and partners for over twenty years and we’re thrilled to be able to build on this relationship and take on MDR, bring it together with ADS, and provide industry leading capabilities for exchange reporting and compliance to the marketplace.” said Steve Matthews, CEO of TRG Screen.
“Exchange reporting is one of the most complex aspects to market data management, and managing it correctly is essential to maintain contractual compliance and ensure you are right-sizing your costs based on your actual consumption. I’m very pleased that MDR’s customers, and team, will now be part of the best-of-breed solution with the industry’s leading provider of market data management solutions. Our Market Data consulting practice will partner with TRG Screen to deliver innovative solutions.” said Tom Jordan, CEO of Jordan & Jordan.
This acquisition demonstrates TRG Screen’s ongoing commitment to servicing the needs of market data consumers, vendors and exchanges. Recent other transaction highlights include the acquisition of Axon and their Market Data Compliance Platform and acquisition of the Market Data Insights (MDI) managed services business. TRG Screen is owned by Pamlico Capital.
Brian DeCicco from Berkery Noyes served as the exclusive financial advisor to Jordan & Jordan. Financial terms of the transaction were not disclosed.