Baymarkets Technology (Baymarkets), a Nordic provider of FinTech solutions, has separated its current business into two independent companies, Reg&Tech Solutions AB (Reg&Tech) and Baymarkets AS.
Reg&Tech Solutions AB is a new company created by three of the previous founders of Baymarkets and Reg&Tech’s CEO, Per Andersson. Reg&Tech delivers the latest in Big Data automation, addressing the regulatory challenges facing financial institutions around the globe.
Baymarkets will continue to provide FinTech solutions to marketplaces and clearing houses, based on the Clara clearing platform, and will be led by Tore Klevenberg (pictured), as CEO, and Peter Fredriksson as Chairman.
“The financial markets are rapidly becoming fully electronic, driven by regulations and new enabling technologies” says Per Andersson, CEO of Reg&Tech Solutions, he adds. “There is a strong demand for solutions and platforms that automate and streamline the business processes to comply with these new regulations as well as to increase operational efficiency.”
Tore Klevenberg, CEO of Baymarkets, says: “I’m looking forward to this new phase in the development of Baymarkets’ clearing and marketplace offering.” He continued “The Clara platform has proven to be very efficient at addressing all the demands of a modern clearing solution.”